countries over the past two decades, emphasizing the relative significance of direct versus portfolio investment. It … distinguishes between foreign direct investment, portfolio equity investment, official reserves, and external debt. Second, the … statistically significantly associated with foreign direct investment in Arab countries. Financial development (defined as credit to …

finance. The paper assembles comprehensive bilateral data on cross-border bank loans and deposits, portfolio investment in … debt and equity, foreign direct investment, and international reserves. The main finding is that global financial … North. By 2018, the South accounted for 24 to 40 percent of international loans and deposits, portfolio investment, and …