Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/90556 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Discussion Papers No. 124
Verlag: 
Georg-August-Universität Göttingen, Courant Research Centre - Poverty, Equity and Growth (CRC-PEG), Göttingen
Zusammenfassung: 
In this paper, we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we fi nd statistically signi cant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows and use a non-parametric test for spatial correlation in the residuals of capital flows.
Schlagwörter: 
determinants of capital flows
information
panel data
risk
SDDS
IMF
FDI
portfolio investment
spatial econometrics
JEL: 
C33
F21
G14
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
695.79 kB





Publikationen in EconStor sind urheberrechtlich geschützt.