What Moves Capital to Transition Economies?

Between 1991 and 1999, capital flows to 25 transition economies in Europe and the former Soviet Union differed widely in terms of overall levels and the share and composition of private flows. With some exceptions (notably Russia), the main form of private inflows was foreign direct investment. Port...

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Bibliographic Details
Main Author: Mora, Nada
Other Authors: Sahay, Ratna, Zettelmeyer, Jeromin, Garibaldi, Pietro
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Russian Federation 
653 |a Investments, Foreign 
653 |a Portfolio management 
653 |a Finance 
653 |a Short-term Capital Movements 
653 |a Portfolio investment 
653 |a Current Account Adjustment 
653 |a Capital market 
653 |a Financial Aspects of Economic Integration 
653 |a Balance of payments 
653 |a Long-term Capital Movements 
653 |a Exports and Imports 
653 |a General Financial Markets: General (includes Measurement and Data) 
653 |a International economics 
653 |a Capital flows 
653 |a Financial markets 
653 |a Capital inflows 
653 |a Capital movements 
653 |a Finance: General 
653 |a Comparative Economic Systems: General 
653 |a Foreign direct investment 
653 |a International Investment 
653 |a Securities markets 
653 |a Socialist Systems and Transitional Economies: General 
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520 |a Between 1991 and 1999, capital flows to 25 transition economies in Europe and the former Soviet Union differed widely in terms of overall levels and the share and composition of private flows. With some exceptions (notably Russia), the main form of private inflows was foreign direct investment. Portfolio investment was volatile and concentrated in a handful of countries. Regressions show that direct investment can be well explained in terms of economic fundamentals, whereas the presence of a financial market infrastructure and a property-rights indicator are the only explanatory variables that seem to have had a robust effect on portfolio investment