Capital Flows to Central and Eastern Europe

By Gian M Milesi-Ferretti, Philip R. Lane

August 1, 2006

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Format: Chicago

Gian M Milesi-Ferretti, and Philip R. Lane Capital Flows to Central and Eastern Europe, (USA: International Monetary Fund, 2006) accessed September 20, 2024

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

Summary

We examine the evolution of the net external asset positions of Central and Eastern Europe (CEEC) countries over the past decade, with a strong emphasis on the composition of their international balance sheets. We assess the extent of their international financial integration, compared with the advanced economies and other emerging markets, and highlight the salient features of their external capital structure in terms of the relative importance of FDI, portfolio equity, and external debt. In addition, we briefly describe the country and currency composition of their external liabilities. Finally, we explore the implications of the accumulated stock of external liabilities for future trade and current account balances.

Subject: External debt, External position, Foreign direct investment, Stocks, Trade balance

Keywords: Current account, Emerging market, Liability, WP

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2006/188
Stock No:

WPIEA2006188
ISBN:

9781451864489
ISSN:

1018-5941

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