International Financial Flows in Low‐Income Countries

24 Pages Posted: 21 Feb 2015

See all articles by Philip R. Lane

Philip R. Lane

Trinity College (Dublin) - Department of Economics; Centre for Economic Policy Research (CEPR); Central Bank of Ireland

Date Written: February 2015


For a sample of low‐income countries, we analyse the behaviour of international financial flows during three periods: (i) the 2003–2007 global boom; (ii) the 2008–2009 crisis; and (iii) the 2010–2012 recovery phase. In particular, we examine aid‐adjusted net financial inflows, debt inflows, foreign direct investment inflows and official reserve outflows. We highlight the role of country characteristics in explaining the cross‐country variation in international financial flows during these different phases.

Suggested Citation

Lane, Philip R., International Financial Flows in Low‐Income Countries (February 2015). Pacific Economic Review, Vol. 20, Issue 1, pp. 49-72, 2015. Available at SSRN: or

Philip R. Lane (Contact Author)

Trinity College (Dublin) - Department of Economics ( email )

Trinity College
Dublin 2
+353 1 608 2259 (Phone)
+353 1 677 2503 (Fax)

Centre for Economic Policy Research (CEPR)

United Kingdom

Central Bank of Ireland ( email )

P.O. Box 559
Dame Street
Dublin, 2

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