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Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2015-24
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
This paper examines the influence of political risk guarantees of bilateral investment treaties on debt and equity flows using panel data on middle income countries for the period 1984-2011. Adopting system GMM methodology, the paper empirically finds that ratified bilateral investment treaties with OECD countries have a combined positive influence on non-guaranteed debt flows and a direct positive influence on portfolio equity flows. The results highlight the importance of considering political risk guarantees in financial integration, regulation of financial markets and institutions, and capital liberalization.
Schlagwörter: 
political risk guarantees
bilateral investment treaties
capital flows
debt flows
equity flows
JEL: 
F21
F34
G15
G18
K33
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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