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The Chinese Approach to Capital Inflows : Patterns and Possible Explanations
Prasad, Eswar - 2005
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms … of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern … globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the …
Persistent link: https://www.econbiz.de/10012467378
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Quid Pro Quo : Technology Capital Transfers for Market Access in China
Holmes, Thomas J. - 2013
Despite the recent rapid development and greater openness of China's economy, FDI flows between China and … technologically advanced countries are relatively small in both directions. We assess global capital flows in light of China's quid … model to data. We also find large welfare gains for China--and welfare losses for its FDI partners--from quid pro quo …
Persistent link: https://www.econbiz.de/10012459412
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Bubble Thy Neighbor : Portfolio Effects and Externalities from Capital Controls
Forbes, Kristin - 2012
that have substantial exposure to China and decrease allocations to countries viewed as more likely to use capital controls …
Persistent link: https://www.econbiz.de/10012460607
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Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises
Wei, Shang-Jin - 2001
Crony capitalism and self-fulfilling expectations by international creditors are often suggested as two rival explanations for currency crisis. This paper examines a possible linkage between the two that has not been explored much in the literature: corruption may affect a country's composition...
Persistent link: https://www.econbiz.de/10012470539
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Implications of the U.S. Net Capital Inflow
Friedman, Benjamin M. - 1986
The rapidly growing net inflow of capital from abroad, mirroring the extraordinary deterioration of the U.S. export-import balance, has played a major role in equilibrating overall saving and investment in the United States in the face of unprecedentedly large and persistent federal goverriment...
Persistent link: https://www.econbiz.de/10012477273
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Why do Foreigners Invest in the United States?
Forbes, Kristin J. - 2008
Why are foreigners willing to invest almost $2 trillion per year in the United States? The answer affects if the existing pattern of global imbalances can persist and if the United States can continue to finance its current account deficit without a major change in asset prices and returns. This...
Persistent link: https://www.econbiz.de/10012464739
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Foreign Capital and Economic Growth
Prasad, Eswar S. - 2007
We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...
Persistent link: https://www.econbiz.de/10012465020
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Foreign Capital and Economic Growth in the First Era of Globalization
Bordo, Michael D. - 2007
We explore the association between income and international capital flows between 1880 and 1913. Capital inflows are associated with higher incomes per capita in the long-run, but capital flows also brought income volatility via financial crises. Crises also decreased growth rates of income per...
Persistent link: https://www.econbiz.de/10012465070
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Returns on FDI : Does the U.S. Really Do Better?
Bosworth, Barry - 2007
According to the U.S. external accounts, U.S. investors earn a significantly higher rate of return on their foreign investments than foreigners earn in the United States. This continued strong performance has produced a positive net investment income balance despite the deterioration in the U.S....
Persistent link: https://www.econbiz.de/10012465337
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Foreign Capital in Latin America in the Nineteenth and Twentieth Centuries
Taylor, Alan M. - 2003
This paper examines the history of foreign investment in Latin America in the two centuries since independence. Investment flows to the region were sometimes large and always volatile. Symptoms of overborrowing, sudden stops, debt, default and crises have been evident from the beginning. In...
Persistent link: https://www.econbiz.de/10012469119