This paper reports on trends and levels of capital inflows, and the volatility of such inflows, to a sample of 60 developing countries over the period from 1970 to 1997. The data cover aid and other development finance as the principal forms of official flows, FDI and other private flows, and...

The literature on the stylised facts of structural change in LDCs has been bedevilled by three problems: (i) drawing time-series inferences from cross-section results; (ii) endogeneity of the variables involved; and (iii) an inability to separate short-run from long-run effects. This paper uses...