Alfaro, Laura; Kalemli-Ozcan, Sebnem; Volosovych, Vadym - In: Journal of the European Economic Association 12 (2014) 5, pp. 1240-1284
We construct measures of net private and public capital flows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign transactions account for upstream...