Late to the game? Capital flows to the Western Balkans

IMF Working Papers, April 7, 2017

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Late to the game? Capital flows to the Western Balkans

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Bibliographic details

• Authors: Zsoka Koczan
• Published: April 7, 2017
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781475593501.001

Overview and research objective

• Author: Zsoka Koczan
• Publication date: April 7, 2017
• Series: Working Paper No. 2017/092
• Issue: 092
• Volume: 2017
• Pages: 26
• DOI: https://doi.org/10.5089/9781475593501.001
• ISBN: 9781475593501
• ISSN: 1018-5941
• Purpose: Examine how capital flows to the Western Balkans compare with flows to the New Member States of the European Union in terms of levels and dynamics.

Key findings on financial integration and capital flows

• Financial integration in the Western Balkans took off somewhat later than in the New Member States but has increased rapidly.
• Capital account openness in the Western Balkans remains much lower than in the New Member States.
• Capital inflows as a share of GDP in the Western Balkans are comparable to those observed in the New Member States.
• Capital inflows to the Western Balkans are diverse in terms of source countries.
• Composition of capital inflows to the Western Balkans is broadly similar to the New Member States, with equity shares higher than they were in the New Member States at comparable levels of GDP per capita.

Subject areas and keywords

• Subjects: Balance of payments; Capital account; Capital flows; Capital inflows; Capital outflows; Financial institutions; Foreign direct investment; Stocks
• Keywords: Capital flows; Capital inflows; capital outflow; Capital outflows; cross-border capital flow; equity share; FDI inflow; flows to the Western Balkans; foreign direct investment; Global; greenfield FDI; inflows to the Western Balkans; interest rate differential; outflows from the Western Balkans; portfolio equity investment; Stocks; terms of trade; Western Balkans; Western Balkans economy; WP

Publication metadata and access

• Stock No: WPIEA2017092
• Format: IMF Working Papers (research in progress; views are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management)
• Available formats: PDF and other formats on IMF eLibrary (note: listing of formats is present on the source)

Source: IMF Working Paper "Late to the game? Capital flows to the Western Balkans" by Zsoka Koczan, April 7, 2017.

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• Late to the game? Capital flows to the Western Balkans
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