External Capital Structure: Theory and Evidence

Philip Lane and Gian Maria Milesi-Ferretti (gmilesiferretti@brookings.edu)

No 2000/152, IMF Working Papers from International Monetary Fund

Abstract: Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts associated with the structure of external liabilities in developing countries, focusing in particular on FDI and equity stocks.

Keywords: WP; portfolio equity flow; FDI liability; FDI flow; FDI investment; log GDP; Net foreign assets; portfolio equity; foreign direct investment; external debt; equity liability; Stocks; Capital flows; Stock markets; Middle East; Asia and Pacific; Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 33
Date: 2000-08-01
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Citations: View citations in EconPapers (37)

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