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Crises, Portfolio Flows, and Foreign Direct Investment : An Application to Turkey

Uctum, Merih; Uctum, Remzi - 2014

We analyze how financial and economic crises affect the relation between the components of capital flows and their determinants in an emerging economy. Our results suggest that the composition of capital flows matters, crises can explain the volatility of portfolio flows and foreign direct...

Persistent link: https://www.econbiz.de/10014171831

Current account balance and external adjustment in Turkiye

Kara, Hakan; Sarıkaya, Çağrı - 2023

This paper identifies the cyclical drivers of the current account balance (CAB) in Türkiye and assesses the relevant macro policy implications. We employ the notion of "underlying current account", which corrects for cyclical factors such as global and domestic growth, terms of trade, as well...

Persistent link: https://www.econbiz.de/10014331868

Monetary Policy, Uncertainty, and Domestic Shock Transmission to Capital Flow in Turkey

Sifat, Imtiaz - 2019

transmission to foreign direct investment and foreign portfolio investment. Operating on Turkey as a case study, I disaggregate … policy and uncertainty surrounding it, Central Bank of Turkey's monetary policy, and several key domestic macroeconomic … both at home and abroad. Complementary results from uncertainty metrics indicate-to varying extents-that Turkey is a …

Persistent link: https://www.econbiz.de/10012861354

The global financial resource curse

Benigno, Gianluca; Fornaro, Luca; Wolf, Martin - 2020

Since the late 1990s, the United States has received large capital flows from developing countries and experienced a productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and global productivity growth. The key feature is that...

Persistent link: https://www.econbiz.de/10012167488

What drives different types of capital flows and their volatilities in developing Asia?

Mercado, Rogelio V. <Jr.>; Park, Cyn-Young - 2011

Understanding the determinants of capital inflows is essential to designing an effective policy framework to manage volatile capital flows and their disruptive potential. This paper aims to identify factors that explain the size and volatility of various types of capital flows to developing Asia...

Persistent link: https://www.econbiz.de/10011283420

Short - term capital flows and growth in developed and emerging markets

Petroulas, Pavlos - 2022

A lot of attention has been directed towards recent financial crises around the world and empirical studies have found that short-term flows increase financial fragility and also increase the probability of financial crises. This study takes a macro-oriented approach and shows that while large...

Persistent link: https://www.econbiz.de/10013404640

Institutional quality and macrofinancial resilience in Asia

Beirne, John; Panthi, Pradeep - 2022

This paper examines the effect of institutions on macrofinancial resilience in Asia. Focusing on a panel of 12 Asian economies from 1996Q1 to 2020Q4, we find that institutions for economies with high levels of institutional quality support the resilience of real GDP per capita and net FDI...

Persistent link: https://www.econbiz.de/10013342166

External challenges to the economic expansion of emerging markets in the post-COVID 19 and post-COP26 era : a balance-of-payments constrained growth (BPCG) perspective

Moreno-Brid, Juan Carlos; Nalin, Lorenzo; … - In: PSL quarterly review 75 (2022) 303, pp. 313-354

, Ghana, India, Mexico, and Turkey. …

Persistent link: https://www.econbiz.de/10014230871

Is the Turkish current account deficit sustainable?

Abbasoğlu, Osman Furkan; İmrohoroğlu, Ayşe; … - 2017

During the 2011-2015 period, Turkey's current account deficit as a percentage of GDP was one of the largest among the … of the world is expected to borrow now and run a current account de cit. Our findings suggest that Turkey's current …

Persistent link: https://www.econbiz.de/10011609959

Capital flows : catalyst or hindrance to economic takeoffs?

Aizenman, Joshua; Sushko, Vladyslav - 2011

This paper applies a probit estimation to assess the relationship between economic takeoffs during 1950- 2000 and inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and commodity terms of trade. Average level of FDI inflows is...

Persistent link: https://www.econbiz.de/10009270029