External Capital Structure: Theory and Evidence

Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts associated with the structure of external liabilities in developing countries, focusing in particular on FDI and equity stocks.
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Volume/Issue: Volume 2000 Issue 152
Publication date: August 2000
ISBN: 9781451857085
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Topics covered in this book

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Business and Economics , Exports and Imports , Finance , WP , portfolio equity flow , FDI liability , FDI flow , FDI investment , log GDP , Net foreign assets , portfolio equity , foreign direct investment , external debt , equity liability , Stocks , Capital flows , Stock markets , Middle East , Asia and Pacific , Africa , Sub-Saharan Africa

Summary

Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts associated with the structure of external liabilities in developing countries, focusing in particular on FDI and equity stocks.