Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/39513 
Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
ZEI Working Paper No. B 10-2003
Verlag: 
Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI), Bonn
Zusammenfassung: 
We show that the imputation of reinvested profits of the subsidiaries of foreign firms as a debit item on a host country's balance of payments account tends to overstate the current account deficit and to make the host country seem more vulnerable to financial crisis. We also show that, because of the workings of the FDI financial life cycle, this phenomenon is most evident for countries that have recently received large inflows of capital. The transition economies of East Europe certainly fall among such countries, and we show that, for the Czech Republic and Hungary, this imputation has a large effect on their reported current account balance. We verify the working of the FDI financial life cycle using a panel of transition economies.
Schlagwörter: 
balance of payments
foreign exchange crisis
foreign direct investment
transition economies
JEL: 
F21
F23
F34
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
268.3 kB





Publikationen in EconStor sind urheberrechtlich geschützt.