Capital Flows to Developing Countries: Long- and Short-Term Determinants

Abstract

This article focuses on the determinants of the large portfolio flows from the United States to Latin American and Asian countries during 1988–92. Cointegration techniques reveal that both domestic and global factors explain bond and equity flows to developing countries and represent significant long-run determinants of portfolio flows. The article also… (More)

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@inproceedings{Taylor1997CapitalFT, title={Capital Flows to Developing Countries: Long- and Short-Term Determinants}, author={Mark P. Taylor and Lucio Sarno and Stijn Claessens and Ning Zhu and Eduardo Fern{\'a}ndez-Arias and Kausik Chaudhuri}, year={1997} }