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150128 ||| eng |
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|a 9781475503494
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| 100 |
1 |
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|a Spatafora, Nikola
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| 245 |
0 |
0 |
|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 Capital inflows
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| 653 |
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|a Money
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| 653 |
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|a Balance of payments
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Exports
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| 653 |
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|a Saving and investment
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| 653 |
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|a Domestic credit
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| 653 |
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|a Capacity
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Capital
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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 International economics
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Investments: General
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| 653 |
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|a Trade: General
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| 653 |
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|a Return on investment
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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 Intangible Capital
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| 653 |
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|a National accounts
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| 653 |
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|a Capital movements
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| 653 |
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|a Export performance
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a International trade
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Monetary economics
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| 653 |
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|a Investment
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| 700 |
1 |
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|a Luca, Oana
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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 |
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|a 10.5089/9781475503494.001
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| 856 |
4 |
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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 |
0 |
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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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