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Capital Inflows and the Real Exchange Rate.

This paper argues that, in improving the efficient allocation of resources, financial sector development could dampen the appreciation effect of capital inflows. Using dynamic panel data techniques, the paper finds that the exchange rate appreciation effect of FDI inflows is indeed attenuated when f...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Saborowski, Christian
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Acceso en línea:Texto completo

MARC

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245 1 0 |a Capital Inflows and the Real Exchange Rate. 
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505 0 |a I. Introduction; II. Literature Review; III. Empirical Approach; IV. Econometric Methodology; V. Estimation Results; A. Financial Market Development; B. Capital Market Development; VI. Robustness; VII. Discussion; Tables; 1. The Impact of FDI and OCI on the Real Exchange Rate; 2A. Liquid Liabilities and the Impact of FDI Inflows on the Real Exchange Rate; 2B. Private Credit and the Impact of FDI Inflows on the Real Exchange Rate; 2C. Stock Market Size and the Impact of FDI Inflows on the Real Exchange Rate; 2D. Stock Market Activity and the Impact of FDI Inflows on the Real. 
505 8 |a 3A. Robustness: Additional Variables in Liquid Liabilities Regression3B. Robustness: Additional Variables in Stock Market Size Regression; 3C. Robustness: Additional Variables in Stock Market Activity Regression; 4A: Robustness: Excluding One Income Group at a Time in Liquid Liabilities Regression; 4B: Robustness: Excluding One Income Group at a Time in Market Size Regression; 4C: Robustness: Excluding One Income Group at a Time in Market Activity Regression; 5A. Robustness: Excluding One Region at a Time in Liquid Liabilities Regression. 
505 8 |a 5B. Robustness: Excluding One Region at a Time in Stock Market SIZE Regression5C. Robustness: Excluding One Region at a Time in Stock Market Activity Regression; Appendixes; I. List of Countries; Appendix Tables; 5. List of 84 Countries Used for the Analysis; II. Definitions and Sources of Variables; 6. Definitions and Sources of Variables; III. Summary of Statistics; 7A. Summary Statistics (1997-2006); 7B. Composition of Capital Inflows (1990-2006); IV. Sample of Correlations; 8. Sample Correlations (1997-2006); References. 
520 |a This paper argues that, in improving the efficient allocation of resources, financial sector development could dampen the appreciation effect of capital inflows. Using dynamic panel data techniques, the paper finds that the exchange rate appreciation effect of FDI inflows is indeed attenuated when financial and capital markets are larger and more active. The main implication of these results is that one of the main dangers associated with large capital inflows in emerging markets-the destabilization of macroeconomic management due to a sizeable appreciation of the real exchange rate-can be mit. 
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650 0 |a Capital movements. 
650 0 |a Foreign exchange rates. 
650 6 |a Mouvements de capitaux. 
650 6 |a Taux de change. 
650 7 |a Capital movements  |2 fast 
650 7 |a Foreign exchange rates  |2 fast 
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776 0 8 |i Print version:  |a Saborowski, Christian.  |t Capital Inflows and the Real Exchange Rate: Can Financial Development Cure the DutchDisease?  |d Washington : International Monetary Fund, ©2009  |z 9781451871678 
830 0 |a IMF Working Papers. 
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