The sources of international investment income in emerging market economies

Joseph Joyce

MPRA Paper from University Library of Munich, Germany

Abstract: We investigate international investment income flows in 26 emerging market countries during the period of 1998-2015. Net investment income registered a deficit for this group of countries of between 2-3% of GDP during this period. This deficit has been dominated by payments on foreign direct investment liabilities, which is consistent with the change in the composition of the external liabilities of these countries. Our results indicate that both capital account and trade openness are associated with the deficits on direct investment income. In addition, there was a small deficit in portfolio investment income, which is affected by the development of domestic financial markets and investor protection. Other investments’ income and the income from foreign exchange reserves have a negligible role in total investment income.

Keywords: investment income; FDI; emerging markets (search for similar items in EconPapers)
JEL-codes: F21 F32 (search for similar items in EconPapers)
Date: 2019-10-07
New Economics Papers: this item is included in nep-int
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Related works:
Journal Article: The sources of international investment income in emerging market economies (2021)
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