Mauro, Paolo; Levchenko, Andrei A. - International Monetary Fund (IMF) - 2006
flows: foreign direct investment (FDI), portfolio equity investment, portfolio debt investment, other flows to the official … economy. However, consistent with conventional wisdom, FDI is found to be the least volatile form of financial flows when … year): in such episodes, FDI is remarkably stable; portfolio equity also seems to play a limited role; portfolio debt …