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Capital Flows to Developing Countries: Recent Trends and Prospects
| Content Provider | Semantic Scholar |
|---|---|
| Copyright Year | 2012 |
| Abstract | 3.0. Introduction International capital flows have recently been marked by a sharp expansion in net and gross capital flows and a substantial increase in the participation of foreign investors and foreign financial institutions in the financial markets of the developing countries (World Bank, 1997). This expansion has been much greater than that of international trade flows (Goldstein, 1995 and Montiel 1996). It has been reinforced by the ongoing abolition of impediments and capital controls and the broader liberalization of financial markets in the developing countries since the late 1980s. Feldstein and Horioka's (1980) finding of low international capital mobility based on the correlation between the shares of savings and investment in gross domestic product (GDP) still remains a puzzle. However, studies based on interest rate differentials generally provide evidence that there is a high and increasing degree of international capital mobility among the major industrial countries and among the developing countries (Montiel, 1996). |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://shodhganga.inflibnet.ac.in/bitstream/10603/4234/12/12_chapter%203.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
