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Author/Editor:
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Gordon, James P. F. ; Gupta, Poonam
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Publication Date:
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January 01, 2003
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Electronic Access:
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Free Full text
(PDF file size is 1,125KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper analyzes the factors affecting portfolio equity flows into India using monthly data. Flows to India are small compared to other emerging markets, but seem to be relatively less volatile. They also seem to be quite resilient. The paper shows that portfolio flows are determined by both external and domestic factors. Among external factors, LIBOR and emerging market stock returns are important, while the primary domestic determinants are the lagged stock return and changes in credit ratings. In quantitative terms, both external and domestic factors are found to be about equally important.
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Order a print copy
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Series:
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Working Paper No. 03/20
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Subject(s):
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Capital flows | India | Capital inflows | Bonds
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Author's Keyword(s):
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Capital flows | portfolio flows | India |
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English
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Publication Date:
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January 01, 2003
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ISBN/ISSN:
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1934-7073
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Format:
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Paper
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Stock No:
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WPIEA0202003
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Pages:
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37
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Price:
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US$15.00 )
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Please address any questions about this title to
publications@imf.org
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