International reserves and the composition of equity capital inflows

Research, Preprint English OPEN
Qian, Xingwang; Steiner, Andreas; (2012)
  • Publisher: Osnabrück: Osnabrück University, Institute of Empirical Economic Research
  • Subject: International Reserves, Capital Inflows, Equity Capital | capital inflows | international reserves | equity capital | F3 | F4
    • jel: jel:F3 | jel:F4
      ddc: ddc:330

We study the effect of central banks’ international reserve hoardings on the composition of equity capital inflows, namely the ratio of portfolio equity investment (PEI) to foreign direct investment (FDI). Foreign investors’ decisions regarding the location and the type... View more
  • References (45)
    45 references, page 1 of 5

    Acharya, Viral, Hyun Song Shin and Tanju Yorulmazer (2011), “Fire-sale FDI”, Princeton University, Working Paper.

    Aguiar, Mark and Gita Gopinath (2005), “Fire-sale foreign direct investment and liquidity crises”, Review of Economics and Statistics 87(3): 439-452.

    Aizenman, Joshua and Vladyslav Sushko (2011a), “Capital flow types, external financing needs, and industrial growth: 99 countries, 1991-2007”, NBER Working Paper 17228.

    Aizenman, Joshua and Vladyslav Sushko (2011b), “Capital flows: catalyst or hindrance to economic takeoffs?”, NBER Working Paper 17258.

    Alfaro, Laura and Fabio Kanczuk (2009), “Debt maturity: Is long-term debt optimal?”, Review of International Economics 17, No. 5: 890-905.

    Anderson, Theodore W. and Cheng Hsiao (1981), “Estimation of dynamic models with error components”, Journal of American Statistical Association, 76, 598-606.

    De Gregorio, José and Jong-Wha Lee (2004), "Growth and adjustment in East Asia and Latin America", Economía Vol. 5, No.1: 69-115.

    Demirgüç-Kunt, Asli and Ross Levine (1996), “Stock market development and financial intermediaries: stylized facts”, World Bank Economic Review 10(2): 291-321.

    Durham, J. Benson (2003), “Foreign portfolio investment, foreign bank lending, and economic growth”, Board of Governors of the Federal Reserve System, International Finance Discussion Papers No. 757.

    Eichler, Stefan and Dominik Maltritz (2011a), “Stock market-induced currency crises - a new type of twins”, Review of Development Economics, 15(2): 223-236.

  • Metrics
    No metrics available
Share - Bookmark