Country portfolios

Aart Kraay (), Norman Loayza (), Luis Servén and Jaume Ventura

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: Capital flows to developing countries are small and are mostly take the form of loans rather than direct foreign investment. We build a simple model of North-South capital flows that highlights the interplay between diminishing returns, production risk and sovereign risk. This model generates a set of country portfolios and a world distribution of capital stocks that resemble those in the data.

Keywords: Internationall capital flows; country portfolios; sovereign risk (search for similar items in EconPapers)
JEL-codes: F32 F34 (search for similar items in EconPapers)
Date: 2000-10
New Economics Papers: this item is included in nep-fmk
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (37)

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Related works:
Journal Article: Country Portfolios (2005)
Working Paper: Country Portfolios (2004)
Working Paper: Country portfolios (2001)
Working Paper: Country Portfolios (2001)
Working Paper: Country Portfolios (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:913

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