External Capital Structure Theory and Evidence
33 Pages Posted: 31 Jan 2006
Date Written: August 2000
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.
Keywords: Net foreign assets, portfolio equity, foreign direct investment, external debt
JEL Classification: F21, F34
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