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Capital Flows to Central and Eastern Europe

Author/Editor: Milesi-Ferretti, Gian Maria | Lane, Philip R.
Authorized for Distribution: August 1, 2006
Electronic Access: Free Full Text (PDF file size is 374KB)
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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.

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.
 
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Series: Working Paper No. 06/188
Subject(s): Capital flows | Central and Eastern Europe | Balance of trade | Current account | Foreign direct investment
Author's keyword(s): trade balance | rates of return | net external position | FDI
 
English  
    Published:   August 1, 2006        
    ISBN/ISSN:   0 / 1934-7073   Format:   Paper
    Stock No:   WPIEA2006188   Pages:   31
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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