Country Portfolios

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

No 3320, Policy Research Working Paper Series from The World Bank

Abstract: Capital flows to developing countries are small and take mostly 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: Economic Theory&Research; Banks&Banking Reform; Payment Systems&Infrastructure; International Terrorism&Counterterrorism; Environmental Economics&Policies; Economic Theory&Research; Banks&Banking Reform; International Terrorism&Counterterrorism; Environmental Economics&Policies; Financial Intermediation (search for similar items in EconPapers)
Date: 2004-06-01
New Economics Papers: this item is included in nep-fin and nep-ifn
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Country Portfolios (2005)
Working Paper: Country portfolios (2001)
Working Paper: Country Portfolios (2001)
Working Paper: Country Portfolios (2000)
Working Paper: Country portfolios (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:3320

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