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The role of risk and information for international capital flows : new evidence from the SDDS
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| 자료유형 | 단행본 |
|---|---|
| 서명/저자사항 | The role of risk and information for international capital flows : new evidence from the SDDS/ prepared by Yuko Hashimoto and Konstantin M. Wacker. |
| 개인저자 | Hashimoto, Yuko. Wacker, Konstantin M, |
| 발행사항 | Washington, DC: International Monetary Fund, 2012. |
| 형태사항 | 1 online resource (43 pages): illustrations. |
| 총서사항 | IMF working paper;WP/12/242 |
| ISBN | 9781475512656 1475512651 |
| 일반주기 |
"October 2012."
|
| 서지주기 | Includes bibliographical references. |
| 요약 | In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we find statistically significant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows anduse a non-parametric test for spatial correlation in the residual of capital flows. |
| 일반주제명 | Capital movements. Macroeconomics. BUSINESS & ECONOMICS --Finance. Capital movements. Macroeconomics. |
| 언어 | 영어 |
| 바로가기 |  |
