Nonlinearities arise in international investment because of a pecking order in barriers. Some severe barriers render all others meaningless, and only when they are alleviated do other barriers become important. We show, using quantile regressions designed to model relations at more points than...

Nonlinearities arise in international investment because of a pecking order in barriers. Some severe barriers render all others meaningless and only when they are alleviated do other barriers become important. We show, using quantile regressions designed to model relations at more points than...

Nonlinearities arise in international investment because of a pecking order in barriers. Some severe barriers render all others meaningless, and only when alleviated do other barriers become important. Quantile regressions, designed to model relations at more points than just the conditional...

This paper analyzes the drivers of international waves in capital flows. We build on the literature on “sudden stops” and “bonanzas” to develop a new methodology for identifying episodes of extreme capital flow movements using quarterly data on gross inflows and gross outflows,...