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150128 ||| eng |
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|a 9781475503494
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1 |
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|a Spatafora, Nikola
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| 245 |
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|a Capital Inflows, Financial Development, and Domestic Investment
|b Determinants and Inter-Relationships
|c Nikola Spatafora, Oana Luca
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2012
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| 300 |
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|a 22 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Credit
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| 653 |
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|a International Investment
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| 653 |
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|a Saving and investment
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Exports and Imports
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| 653 |
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|a National accounts
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| 653 |
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|a Export performance
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| 653 |
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|a Investment
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| 653 |
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|a Domestic credit
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| 653 |
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|a International trade
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| 653 |
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|a International economics
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| 653 |
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|a Money
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| 653 |
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|a Investments: General
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| 653 |
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|a Return on investment
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| 653 |
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|a Capital movements
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| 653 |
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|a Capital
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| 653 |
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|a Exports
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| 653 |
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|a Trade: General
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Monetary economics
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| 653 |
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|a Capital inflows
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Capacity
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| 653 |
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|a Current Account Adjustment
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| 700 |
1 |
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|a Luca, Oana
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| 041 |
0 |
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|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 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781475503494.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2012/120/001.2012.issue-120-en.xml?cid=25907-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We examine determinants of, and interactions between, capital inflows, financial development, and domestic investment in developing countries during 2001-07, a period of surging global liquidity and low interest rates. Reductions in the global price of risk and in domestic borrowing costs were the main contributors to the increase over time in net capital inflows and domestic credit. However, the large cross-country differences in domestic and international finance are best explained by fundamentals such as institutional quality, access to international export markets, and an appropriate macroeconomic policy. Both private capital inflows and domestic credit exert a positive effect on investment; they also mediate most of the investment impact of the global price of risk and domestic borrowing costs. Surprisingly, neither greater domestic credit nor greater institutional quality increase the extent to which capital inflows translate into domestic investment
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