Determinants of global capital volatility in the BRICS grouping

Michael Melis and Lumengo Bonga-Bonga

MPRA Paper from University Library of Munich, Germany

Abstract: This paper assesses the determinants of capital flow volatility in the BRICS economies by differentiating between foreign direct investment (FDI) and portfolio capital flow volatilities. Moreover, the paper distinguishes between external variables, policy variables and control variables among the important drivers of capital flow volatiltiy in these economies. Use is made of the general method of moment (GMM) estimation in panel regression for this end. The findings of the empirical analysis show, among other things, the importance of global volatility spillover in driving capital flow volatility in the BRICS countries.

Keywords: capital flow volatility; BRICS; GMM panel regression; FDI; portfolio (search for similar items in EconPapers)
JEL-codes: C23 F32 F41 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-cis and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/94125/1/MPRA_paper_94125.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:94125

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().