The Landscape Of Capital Flows To Low Income Countries Epub

Author by : Mr. Thomas William Dorsey
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 48
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File Size : 49,7 Mb
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Description : This paper reviews trends in capital flows and capital-like flows such as official grants and remittances to low-income countries over the period 1981-2006. The survey reveals a broadbased increase in such flows as a share of low-income country GDP across major regions, countries with differing commodity export composition, and countries with differing debt relief status. The increase in inflows is dominated by an increase in private sector inflows, mostly in the form of private transfers and foreign direct investment. Official sector inflows have remained comparatively constant as a share of low-income country GDP and even declined in the most recent years. The paper concludes with some tentative policy conclusions and has a discussion of data issues in the annexes.


The Landscape Of Capital Flows To Low Income Countries

Author by : Thomas William Dorsey
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 24
Total Download : 620
File Size : 41,7 Mb
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Description : This paper reviews trends in capital flows and capital-like flows such as official grants and remittances to low-income countries over the period 1981-2006. The survey reveals a broadbased increase in such flows as a share of low-income country GDP across major regions, countries with differing commodity export composition, and countries with differing debt relief status. The increase in inflows is dominated by an increase in private sector inflows, mostly in the form of private transfers and foreign direct investment. Official sector inflows have remained comparatively constant as a share of low-income country GDP and even declined in the most recent years. The paper concludes with some tentative policy conclusions and has a discussion of data issues in the annexes.


Non Fdi Capital Inflows In Low Income Developing Countries Catching The Wave

Author by : Juliana Dutra Araujo
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 11
Total Download : 464
File Size : 52,8 Mb
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Description : Low-income countries (LIDCs) are typically characterized by intermittent and very modest access to private external funding sources. Motivated by recent developments in private flows to LIDCs this paper makes two contributions: First, it constructs a new comprehensive dataset on gross private capital flows with special focus on non-FDI flows in LIDCs. Concentrating on LIDCs and more specifically on gross non-FDI private flows is intentionally aimed at closing a gap in existing datasets where country coverage of developing economies is limited mainly to emerging markets (EMs). Second, using the new data, it identifies several shifting patterns of gross non-FDI private inflows to LIDCs. A surprising fact emerges: since the mid 2000's periods of surges in gross non-FDI private inflows in LIDCs are broadly comparable to those of EMs. Moreover, while gross non-FDI inflows to LIDCs are on average much lower than those to EMs, we show that the LIDC top quartile gross non-FDI inflow is comparable to the EM median inflow and converging to the EM top quartile inflow.


Joining The Club Procyclicality Of Private Capital Inflows In Low Income Developing Countries

Author by : Juliana Dutra Araujo
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 29
Total Download : 673
File Size : 41,9 Mb
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Description : Using a newly developed dataset this paper examines the cyclicality of private capital inflows to low-income developing countries (LIDCs) over the period 1990-2012. The empirical analysis shows that capital inflows to LIDCs are procyclical, yet considerably less procyclical than flows to more advanced economies. The analysis also suggests that flows to LIDCs are more persistent than flows to emerging markets (EMs). There is also evidence that changes in risk aversion are a significant correlate of private capital inflows with the expected sign, but LIDCs seem to be less sensitive to changes in global risk aversion than EMs. A host of robustness checks to alternative estimation methods, samples, and control variables confirm the baseline results. In terms of policy implications, these findings suggest that private capital inflows are likely to become more procyclical as LIDCs move along the development path, which could in turn raise several associated policy challenges, not the least concerning the reform of traditional monetary policy frameworks.


Capital Flows Exchange Rate Flexibility And The Real Exchange Rate

Author by : Jean-Louis Combes
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 37
Total Download : 627
File Size : 48,5 Mb
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Description : This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation. Among private flows, portfolio investment has the highest appreciation effect-almost seven times that of foreign direct investment or bank loans-and private transfers have the lowest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real exchange rate stemming from capital inflows.


Capital Flows And Financial Crises

Author by : Miles Kahler
Languange : en
Publisher by : Cornell University Press
Format Available : PDF, ePub, Mobi
Total Read : 47
Total Download : 393
File Size : 52,6 Mb
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Description : Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however: surges in lending were followed by the Mexican peso crisis of 1994-95 and the sudden collapse of currencies in Asia in 1997. This volume maps a new and uncertain financial landscape, one in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent crises. The authors—leading economists and political scientists—examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.


Advances In Food Science And Technology

Author by : Visakh P. M.
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 22
Total Download : 930
File Size : 47,8 Mb
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Description : This book comprehensively reviews research on new developments in all areas of food chemistry/science and technology. It covers topics such as food safety objectives, risk assessment, quality assurance and control, good manufacturing practices, food process systems design and control and rapid methods of analysis and detection, as well as sensor technology, environmental control and safety. The book focuses on food chemistry and examines chemical and mechanical modifications to generate novel properties, functions, and applications.


Towards A Better Global Economy

Author by : Franklin Allen
Languange : en
Publisher by : OUP Oxford
Format Available : PDF, ePub, Mobi
Total Read : 38
Total Download : 777
File Size : 41,5 Mb
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Description : Substantial progress in the fight against extreme poverty was made in the last two decades. But the slowdown in global economic growth and significant increases in income inequality in many developed and developing countries raise serious concerns about the continuation of this trend into the 21st century. The time has come to seriously think about how improvements in official global governance, coupled with and reinforced by rising activism of 'global citizens' can lead to welfare-enhancing and more equitable results for global citizens through better national and international policies. This book examines the factors that are most likely to facilitate the process of beneficial economic growth in low-, middle-, and high-income countries. It examines past, present, and future economic growth; demographic changes; the hyperglobalization of trade; the effect of finance on growth; climate change and resource depletion; and the sense of global citizenship and the need for global governance in order to draw longer-term implications, identify policy options for improving the lives of average citizens around the world, and make the case for the need to confront new challenges with truly global policy responses. The book documents how demographic changes, convergence, and competition are likely to bring about massive shifts in the sectoral and geographical composition of global output and employment, as the center of gravity of the global economy moves toward Asia and emerging economies elsewhere. It shows that the legacies of the 2008-09 crisis-high unemployment levels, massive excess capacities, and high debt levels-are likely to reduce the standard of living of millions of people in many countries over a long period of adjustment and that fluctuations in international trade, financial markets, and commodity prices, as well as the tendency of institutions at both the national and international level to favor the interests of the better-off and more powerful pose substantial risks for citizens of all countries. The chapters and their policy implications are intended to stimulate public interest and facilitate the exchange of ideas and policy dialogue.


Taxes And Development

Author by : Conor M. Savoy
Languange : en
Publisher by : Rowman & Littlefield
Format Available : PDF, ePub, Mobi
Total Read : 70
Total Download : 951
File Size : 55,8 Mb
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Description : There is real promise for developing economies in the mobilization of their own domestic resources. And as aid levels from wealthy nations continue to be uncertain, countries have an impetus to finance their own development in order to deliver responsible, transparent public services—all of which require a strong tax base from the formal sector.


Do Imf Supported Programs Catalyze Donor Assistance To Low Income Countries

Author by : Yasemin Bal-Gunduz
Languange : en
Publisher by : International Monetary Fund
Format Available : PDF, ePub, Mobi
Total Read : 14
Total Download : 523
File Size : 40,9 Mb
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Description : This study explores whether IMF-supported programs in low-income countries (LICs) catalyze Official Development Assistance (ODA). Based on a comprehensive set of ODA measures and using Propensity Score Matching approach to address selection bias, we show that programs addressing policy or exogenous shocks have a significant catalytic impact on both the size and the modality of ODA. Moreover, the impact is greatest when LICs are faced with substantial macroeconomic imbalances or large shocks. Nevertheless, when countries attracting similar donor assistance before shocks are matched results for bilateral ODA turn insignificant, suggesting that the catalytic impact is attributed primarily to multilateral ODA.