International capital flows to emerging markets: National and global determinants

Joseph Paul Byrne, Norbert Fiess

Research output: Contribution to journalArticle

19 Citations (Scopus)

Abstract

Using a novel dataset for emerging markets, we empirically investigate the nature and determinants of aggregate and disaggregate capital inflows. We present formal statistical evidence of commonalities in capital inflows, with the strongest evidence for the level of equity and bank flows. Advanced economy long-run bond yields and commodity prices are identified as determinants of global capital flows. We also consider the national determinants of capital flows, finding that financial openness and institutions matter for country flows. Finally, we identify important commonalities in the volatility of bank inflows.

Original languageEnglish
Pages (from-to)82-100
Number of pages19
JournalJournal of International Money and Finance
Volume61
Early online date1 Dec 2015
DOIs
Publication statusPublished - Mar 2016

Keywords

  • Capital flows
  • Emerging markets
  • Global factors
  • Idiosyncratic flows

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Fingerprint Dive into the research topics of 'International capital flows to emerging markets: National and global determinants'. Together they form a unique fingerprint.

Cite this