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Developing countries are constrained in financing current account deficits as real capital mobility is still far from perfect. At the same time, capital flows to these countries proved to be extremely volatile. The paper argues that the long-term problem of "too little" should not be confused...
Persistent link: https://www.econbiz.de/10011495541
sovereign debt. We establish the size, destination, and characteristics of China's overseas lending. We identify three key … data on Chinese overseas debt stocks and flows. Third, the type of flows is tailored by recipient. Advanced and higher … middle-income countries tend to receive portfolio debt flows, via sovereign bond purchases of the People's Bank of China …
Persistent link: https://www.econbiz.de/10012025564
World Bank. These "hidden debts" distort policy surveillance, risk pricing, and debt sustainability analyses. Since China …
Persistent link: https://www.econbiz.de/10012159810
Foreign investment is often constrained by two forms of political risk: expropriation and corruption. We examine the role of government corruption in foreign direct investment (FDI) when contracts are not fully transparent and investors face the threat of expropriation. Using a novel dataset on...
Persistent link: https://www.econbiz.de/10011446183
China’s lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding …. We construct an encompassing dataset of sovereign debt restructurings with Chinese lenders and find that these credit … a resolution approach reminiscent of 1980s Western lenders; they seldom provide deep debt relief with face value …
Persistent link: https://www.econbiz.de/10012807855
Membership of the European Union has contributed to the economic prosperity of the United Kingdom. Uncertainty about the outcome of the referendum has already started to weaken growth in the United Kingdom. A UK exit (Brexit) would be a major negative shock to the UK economy, with economic...
Persistent link: https://www.econbiz.de/10011578399
We examine the differential impact of portfolio debt, portfolio equity, and FDI inflows on 37 manufacturing industries … cross-sectional regressions of manufacturing industries' growth rates covering 17 years. Net portfolio debt inflows are … negatively associated with growth during the mid 1990s. The magnitudes of the negative effect of surges in portfolio debt inflows …
Persistent link: https://www.econbiz.de/10009270034
, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging …. Finally, the relationship between growth and short-term debt is nil before the crisis, and negative during the crisis …. -- Capital flows ; economic growth ; FDI ; portfolio investment ; equity investment ; short-term debt ; financial integration …
Persistent link: https://www.econbiz.de/10009316233
Persistent link: https://www.econbiz.de/10009372913
Persistent link: https://www.econbiz.de/10009237002