EconPapers    
Economics at your fingertips  
 

The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries

Philip Lane and Gian Maria Milesi-Ferretti ()

No 2231, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Current capital flows are closely monitored, but surprisingly little is known about the stocks of external assets and liabilities held by various countries, especially in the developing world. This paper constructs estimates of foreign assets and liabilities and their equity and debt subcomponents for a sample of 66 industrial and developing countries. It characterizes the stylized facts of estimated stocks and asks whether there are trends in net foreign asset positions and shifts in debt-equity ratios over time. Finally, it explores the sensitivity of estimates of stock positions to the treatment of valuation effects that are not captured in balance of payments data.

Keywords: External Assets; External Debt; Foreign Direct Investment; Portfolio Equity (search for similar items in EconPapers)
JEL-codes: F21 F34 (search for similar items in EconPapers)
Date: 1999-09
References: Add references at CitEc
Citations: View citations in EconPapers (67) Track citations by RSS feed

Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=2231 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: The external wealth of nations: measures of foreign assets and liabilities for industrial and developing countries (2001) Downloads
Working Paper: THE EXTERNAL WEALTH OF NATIONS: Measures of Foreign Assets and Liabilities For Industrial and Developing Countries (2001) Downloads
Working Paper: THE EXTERNAL WEALTH OF NATIONS: Measures of Foreign Assets and Liabilities For Industrial and Developing Countries (2001) Downloads
Working Paper: The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries (1999) Downloads
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:cpr:ceprdp:2231

Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=2231

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2022-10-26
Handle: RePEc:cpr:ceprdp:2231