The role of risk and information for international capital flows : new evidence from the SDDS /
Hashimoto, Yuko.
The role of risk and information for international capital flows : new evidence from the SDDS / prepared by Yuko Hashimoto and Konstantin M. Wacker. - Washington, DC : International Monetary Fund, 2012. - 1 online resource (43 pages) : illustrations - - IMF working paper ; WP/12/242 . - IMF working paper ; no. 12/242. .
"October 2012."
Includes bibliographical references.
In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we find statistically significant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows anduse a non-parametric test for spatial correlation in the residual of capital flows.
9781475512656 (electronic bk.) 1475512651 (electronic bk.) 1475511922 9781475511925 1475512627 9781475512625
Capital movements.
Macroeconomics.
Mouvements de capitaux.
Macroéconomie.
BUSINESS & ECONOMICS--Finance.
Capital movements.
Macroeconomics.
Electronic books.
Electronic books.
HG3891 / .H37 2012eb
332.042
The role of risk and information for international capital flows : new evidence from the SDDS / prepared by Yuko Hashimoto and Konstantin M. Wacker. - Washington, DC : International Monetary Fund, 2012. - 1 online resource (43 pages) : illustrations - - IMF working paper ; WP/12/242 . - IMF working paper ; no. 12/242. .
"October 2012."
Includes bibliographical references.
In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance with the IMF's Special Data Dissemination Standard (SDDS). For FDI, we find statistically significant and robust support for this hypothesis: SDDS subscription increased inflows by an economically relevant magnitude of about 60 percent. We also find evidence of aversion against political and macroeconomic risk as determinants of portfolio and FDI flows anduse a non-parametric test for spatial correlation in the residual of capital flows.
9781475512656 (electronic bk.) 1475512651 (electronic bk.) 1475511922 9781475511925 1475512627 9781475512625
Capital movements.
Macroeconomics.
Mouvements de capitaux.
Macroéconomie.
BUSINESS & ECONOMICS--Finance.
Capital movements.
Macroeconomics.
Electronic books.
Electronic books.
HG3891 / .H37 2012eb
332.042