Work

A Comparative Study of Determinants of International Capital Flows to Asian and Latin American Emerging Countries

Year: 2013

Type: conference-paper

Abstract: In this paper, we focus on the determinants of foreign direct investment and foreign portfolio investment. Applying static and dynamic panel data models of six Asian countries and seven Latin American countries in the period from 1981 to 2011, we find that the characteristic of capital flows has locality, and both domestic and global factors can explain the capital flows to emerging markets, such as GDP, trade openness, financial interrelations, and interest rates. The result also shows expectation is an important driving factor: FDI is more prone to be affected by economic expectation while FPI is exchange rate expectation.

Source: Procedia Computer Science

DOI: 10.1016/j.procs.2013.05.160

Authors: Haizhen Yang, Yuan Xiong, Yujing Ze

Institutions: Chinese Academy of Sciences, University of Chinese Academy of Sciences

Language: English

Topic: Global Financial Crisis and Policies

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: diamond

Funder: National Natural Science Foundation of China

OpenAlex ID: W2076933707

FWCI: 10.27

Cites: 11

Cited by: 17

Related to: 10