A Data Survey on International Capital Flows to Developing Countries

This paper examines the data on international capital flows to developing economies for the period 1970-2006. Besides the most aggregate group of all developing countries, developing world is categorised with respect to five regions (Developing Asia, Europe and Central Asia, Latin America and Caribbean, Middle East and North Africa and Sub Saharan Africa) and three income groups (upper middle, lower middle and low). The overall structure and defining features of the data are discussed with reference to the main data sources, span of time and cross-section units and the core variables of interest. Trends and developments in aggregate capital flows, equity (FDI and portfolio) flows and debt (long-term and short-term) flows are assessed. Growth and cyclicality of these flows, FDI share of gross domestic investment, foreign participation in domestic stock markets and cost and maturity structure of external borrowing are analysed.