External Capital Structure: Theory and Evidence

Author/Editor:

Philip R. Lane ; Gian M Milesi-Ferretti

Publication Date:

August 1, 2000

Electronic Access:

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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:

Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts associated with the structure of external liabilities in developing countries, focusing in particular on FDI and equity stocks.

Series:

Working Paper No. 2000/152

Subject:

Balance of payments Capital flows External debt Financial institutions Financial markets Foreign direct investment Stock markets Stocks

English

Publication Date:

August 1, 2000

ISBN/ISSN:

9781451857085/1018-5941

Stock No:

WPIEA1522000

Pages:

33

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