05707oam 22012734 450 991096125240332120250426110507.0978661382039697814623659441462365949978145278343714527834389781282391963128239196897814519931341451993137(CKB)3360000000443079(EBL)3014336(SSID)ssj0001475044(PQKBManifestationID)11890018(PQKBTitleCode)TC0001475044(PQKBWorkID)11484381(PQKB)11254614(OCoLC)698585534(IMF)WPIEE2006202(MiAaPQ)EBC3014336(IMF)WPIEA2006202WPIEA2006202(EXLCZ)99336000000044307920020129d2006 uf 0engurcn|||||||||txtccrDo Some Forms of Financial Flows Help Protect From Sudden Stops? /Paolo Mauro, Andrei Levchenko1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (23 p.)IMF Working Papers"September 2006."9781451864625 1451864620 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, ForeignBalance of payments statisticsimfBalance of paymentsimfCapital movementsimfCurrent Account AdjustmentimfEconometrics & economic statisticsimfEconomic and financial statisticsimfEmerging and frontier financial marketsimfExports and ImportsimfFinanceimfFinance: GeneralimfFinancial accountimfFinancial Aspects of Economic IntegrationimfFinancial marketsimfFinancial services industryimfForeign direct investmentimfGeneral Financial Markets: General (includes Measurement and Data)imfInternational economicsimfInternational financeimfInternational InvestmentimfInternational Monetary Arrangements and InstitutionsimfInvestments, ForeignimfLong-term Capital MovementsimfShort-term Capital MovementsimfStatisticsimfSudden stopsimfUnited StatesimfCapital movements.Investments, Foreign.Balance of payments statisticsBalance of paymentsCapital movementsCurrent Account AdjustmentEconometrics & economic statisticsEconomic and financial statisticsEmerging and frontier financial marketsExports and ImportsFinanceFinance: GeneralFinancial accountFinancial Aspects of Economic IntegrationFinancial marketsFinancial services industryForeign direct investmentGeneral Financial Markets: General (includes Measurement and Data)International economicsInternational financeInternational InvestmentInternational Monetary Arrangements and InstitutionsInvestments, ForeignLong-term Capital MovementsShort-term Capital MovementsStatisticsSudden stopsMauro Paolo1630692Levchenko Andrei1143204DcWaIMFBOOK9910961252403321Do Some Forms of Financial Flows Help Protect From Sudden Stops4372615UNINA