Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/121659 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Texto para Discussão No. 2071
Verlag: 
Instituto de Pesquisa Econômica Aplicada (IPEA), Brasília
Zusammenfassung (übersetzt): 
The objective of this is study is to assert the role of domestic financial system as mitigating of sudden stops episodes and driver of capital flows in a group of 14 emerging economies in the period of 1999-2013, especially in face of unfavorable external environment such as high international interest rate or global risk aversion. The countries analyzed - Argentina, Brazil, Chile, Colombia, Indonesia, Malaysia, Mexico, Peru, Philippines, Russia, South Africa, Thailand, Turkey and Ukraine, represented in August 2014 roughly 80% of the Embi Plus and 60% of Embi Global. We work with distinct types of capital flows: Inflow of Foreign Direct Investment (FDI), Inflow of Portfólio (stocks, bonds, derivatives and other investments) and Net Capital (inflow and outflow of all types of capital). The result support evidence that the development of domestic financial system allows an increase of capital flow and a decrease of sudden stops probability. This fact support public policies that improve development and strength of domestic financial system in emerging economies.
Schlagwörter: 
emerging economies
capital flow
sudden stops
strength of domestic financial system
JEL: 
F01
F20
F32
Dokumentart: 
Working Paper

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