The authors study what drives private capital flows to developing countries, as well as the apparent response of official lending for the years 1978-97. Econometric results reveal that non-foreign direct investment portfolio flows to a country tended to rise in response to: 1) An increase in the current account deficit. 2) A rise in foreign direct investment flows. 3) Higher per capita income. 4) Growth performance. Once those variables were accounted...
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2000/07/31
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Documento de trabalho sobre pesquisa de políticas
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WPS2392
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1
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1
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2010/07/01
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What factors appear to drive private capital flows to developing countries? and how does official lending respond?
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private capital flow
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