05488oam 22011774 450 991078852070332120230829002205.01-4623-6594-91-4527-8343-81-282-39196-897866138203961-4519-9313-7(CKB)3360000000443079(EBL)3014336(SSID)ssj0001475044(PQKBManifestationID)11890018(PQKBTitleCode)TC0001475044(PQKBWorkID)11484381(PQKB)11254614(OCoLC)698585534(MiAaPQ)EBC3014336(IMF)WPIEE2006202(EXLCZ)99336000000044307920020129d2006 uf 0engurcn|||||||||txtccrDo Some Forms of Financial Flows Help Protect From Sudden Stops? /Paolo Mauro, Andrei LevchenkoWashington, D.C. :International Monetary Fund,2006.1 online resource (23 p.)IMF Working Papers"September 2006."1-4518-6462-0 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. BEHAVIOR OF DIFFERENT TYPES OF FINANCIAL FLOWS""; ""III. BEHAVIOR DURING SUDDEN STOPS IN FINANCIAL FLOWS""; ""IV. CONCLUSIONS AND POSSIBLE EXTENSIONS""; ""REFERENCES""There is a debate on whether some forms of financial flows offer better crisis protection than others. Using a large panel of advanced, emerging, and developing countries during 1970-2003, this paper analyzes the behavior of various types of flows: foreign direct investment (FDI), portfolio equity investment, portfolio debt investment, other flows to the official sector, other flows to banks, and other flows to the non-bank private sector. Differences across types of flows are limited with respect to volatility, persistence, cross-country comovement, and correlation with growth at home or in the world economy. However, consistent with conventional wisdom, FDI is found to be the least volatile form of financial flows when taking into account the average size of net or gross flows. The differences are striking during "sudden stops" in financial flows (defined as drops in total net financial inflows by more than 5 percentage points of GDP compared with the previous year): in such episodes, FDI is remarkably stable; portfolio equity also seems to play a limited role; portfolio debt experiences a reversal, though it recovers relatively quickly; and other flows (including bank loans and trade credit) experience severe drops and remain depressed for a few years.IMF Working Papers; Working Paper ;No. 2006/202Capital movementsInvestments, ForeignExports and ImportsimfFinance: GeneralimfStatisticsimfInternational InvestmentimfLong-term Capital MovementsimfInternational Monetary Arrangements and InstitutionsimfFinancial Aspects of Economic IntegrationimfCurrent Account AdjustmentimfShort-term Capital MovementsimfGeneral Financial Markets: General (includes Measurement and Data)imfInternational economicsimfFinanceimfEconometrics & economic statisticsimfSudden stopsimfForeign direct investmentimfFinancial accountimfEmerging and frontier financial marketsimfBalance of payments statisticsimfBalance of paymentsimfFinancial marketsimfEconomic and financial statisticsimfCapital movementsimfInvestments, ForeignimfInternational financeimfFinancial services industryimfUnited StatesimfCapital movements.Investments, Foreign.Exports and ImportsFinance: GeneralStatisticsInternational InvestmentLong-term Capital MovementsInternational Monetary Arrangements and InstitutionsFinancial Aspects of Economic IntegrationCurrent Account AdjustmentShort-term Capital MovementsGeneral Financial Markets: General (includes Measurement and Data)International economicsFinanceEconometrics & economic statisticsSudden stopsForeign direct investmentFinancial accountEmerging and frontier financial marketsBalance of payments statisticsBalance of paymentsFinancial marketsEconomic and financial statisticsCapital movementsInvestments, ForeignInternational financeFinancial services industryMauro Paolo1462078Levchenko Andrei1143204DcWaIMFBOOK9910788520703321Do Some Forms of Financial Flows Help Protect From Sudden Stops3670929UNINA