It is well known that much of the recorded foreign direct investment (FDI) to the People’s Republic of China is financed by domestically generated funds that leave the country to return as ‘roundtripping’ FDI. This paper provides one of the very few estimates of the magnitude of this form...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...

This paper provides empirical evidence that emerging market economies adjust capital flow management in response to U.S. monetary policy shocks. Using these shocks as exogenous instruments, we find that such adjustments cause changes to portfolio capital flows — in particular, a one standard...