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The role of risk and information for international capital flows : new evidence from the SDDS /
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...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, DC :
International Monetary Fund,
2012.
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| Colección: | IMF working paper ;
no. 12/242. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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 find statistically significant 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 anduse a non-parametric test for spatial correlation in the residual of capital flows. |
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| Notas: | "October 2012." |
| Descripción Física: | 1 online resource (43 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9781475512656 1475512651 1475511922 9781475511925 1475512627 9781475512625 |