Capital flows to emerging markets

Adrian Penalver

Bank of England working papers from Bank of England

Abstract: Capital flows to emerging market economies have occurred in cycles, with booms in lending often followed by financial crises. Economic theory, though, has had little to say on the optimal rate at which capital should flow. In this paper a model due to Barro, Mankiw and Sala-i-Martin is extended to make it more appropriate for analysis of emerging market economies, and optimal capital flows based on an estimated Barro-style conditional convergence growth equation are calculated. Flows derived from the model are lower than actually observed over the estimation period (1988-97) but the results are sensitive to the parameters chosen.

Date: 2003-04
New Economics Papers: this item is included in nep-ifn
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.bankofengland.co.uk/archive/Documents/h ... apers/2003/wp183.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.bankofengland.co.uk/archive/Documents/historicpubs/workingpapers/2003/wp183.pdf [301 Moved Permanently]--> https://www.bankofengland.co.uk/archive/Documents/historicpubs/workingpapers/2003/wp183.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:boe:boeewp:183

Access Statistics for this paper

More papers in Bank of England working papers from Bank of England Bank of England, Threadneedle Street, London, EC2R 8AH. Contact information at EDIRC.
Bibliographic data for series maintained by Digital Media Team ().