Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/64494 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Working Paper No. 692
Verlag: 
University of California, Economics Department, Santa Cruz, CA
Zusammenfassung: 
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international financial system. We look at the relationship both before and after the global crisis. Our study reveals a complex and mixed picture. The relationship between growth and lagged capital flows depends on the type of flows, economic structure, and global growth patterns. We find a large and robust relationship between FDI - both inflows and outflows - and growth. The relationship between growth and equity flows is smaller and less stable. Finally, the relationship between growth and short-term debt is nil before the crisis, and negative during the crisis.
Schlagwörter: 
capital flows
economic growth
FDI
portfolio investment
equity investment
short-term debt
financial integration
financial crisis
JEL: 
F43
F21
F32
Dokumentart: 
Working Paper

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