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150128 ||| eng |
| 020 |
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|a 9781451978827
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| 100 |
1 |
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|a Ghosh, Atish
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| 245 |
0 |
0 |
|a Do Capital Flows Reflect Economic Fundamentals in Developing Countries?
|c Atish Ghosh, Jonathan Ostry
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1993
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| 300 |
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|a 46 pages
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| 651 |
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4 |
|a Papua New Guinea
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| 653 |
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|a Government and the Monetary System
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| 653 |
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|a Wealth
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| 653 |
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|a Payment Systems
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| 653 |
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|a Economics
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| 653 |
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|a Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Current account
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| 653 |
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|a Income distribution
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| 653 |
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|a Regimes
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| 653 |
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|a Monetary economics
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| 653 |
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|a Saving
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Balance of payments
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Consumption distribution
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| 653 |
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|a Aggregate Factor Income Distribution
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| 653 |
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|a International economics
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| 653 |
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|a National accounts
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| 653 |
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|a Money
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| 653 |
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|a Capital flows
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| 653 |
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|a Standards
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| 653 |
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|a Currencies
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| 653 |
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|a Monetary Systems
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| 653 |
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|a Consumption
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Capital movements
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Ostry, Jonathan
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451978827.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/1993/034/001.1993.issue-034-en.xml?cid=1049-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper proposes a methodology for testing whether capital flows to developing countries are determined by economic fundamentals or by purely speculative forces. We use the intertemporal optimizing approach to current account determination as our benchmark for judging the behavior of capital flows. According to this approach, capital flows should act as a buffer to smooth consumption in the face of temporary shocks to national cash flow, defined as output less investment less government expenditures. The results are encouraging. For a large sample of developing countries, economic fundamentals are indeed found to be the most important determinant of capital flows
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