Varieties of capital flows: What do we know

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dc.description.abstract We build a taxonomy of capital flows relying on a selection of the recent empirical literature. We distinguish flows by vehicle (foreign versus local currency, fixed income versus equity, short term versus long term) and by source (foreign versus local investors, managed versus benchmarked flows). We summarize the insights from this literature. So far, the relatively scarce evidence that distinguishes by type of flows, point to a few key messages: 1) foreign currency flows pose less of a threat today than before in EM; 2) debt flows appear riskier than equity flows; 3) gross flows (the net inflows and outflows of foreigners and residents) matter beyond net flows; 4) FDI appears less risky, but some components can be riskier than previously thought; 5) Bank debt is among the riskiest flows. We also discuss the state-­‐of-­‐the arts of the policies to deal with capital flows and identify areas of future research. en
dc.title Varieties of capital flows: What do we know en
dc.contributor.author Levy Yeyati, Eduardo
dc.contributor.author Zúñiga, Jimena
dc.date.accessioned 2018-01-25T21:04:11Z
dc.date.available 2018-01-25T21:04:11Z
dc.date.issued 2018-01-25
dc.identifier.uri http://lacer.lacea.org/handle/123456789/64366
lacea.language.supported en
dc.description Working paper
dc.language.iso en
dc.subject Capital Flows
dc.subject FDI
dc.subject Capital Controls
dc.subject FX Intervention
dc.type Working Paper

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