LEADER 05707oam 22012734 450 001 9910961252403321 005 20250426110507.0 010 $a9786613820396 010 $a9781462365944 010 $a1462365949 010 $a9781452783437 010 $a1452783438 010 $a9781282391963 010 $a1282391968 010 $a9781451993134 010 $a1451993137 035 $a(CKB)3360000000443079 035 $a(EBL)3014336 035 $a(SSID)ssj0001475044 035 $a(PQKBManifestationID)11890018 035 $a(PQKBTitleCode)TC0001475044 035 $a(PQKBWorkID)11484381 035 $a(PQKB)11254614 035 $a(OCoLC)698585534 035 $a(IMF)WPIEE2006202 035 $a(MiAaPQ)EBC3014336 035 $a(IMF)WPIEA2006202 035 $aWPIEA2006202 035 $a(EXLCZ)993360000000443079 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDo Some Forms of Financial Flows Help Protect From Sudden Stops? /$fPaolo Mauro, Andrei Levchenko 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 300 $a"September 2006." 311 08$a9781451864625 311 08$a1451864620 320 $aIncludes bibliographical references. 327 $a""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"" 330 3 $aThere is a debate on whether some forms of financial flows offer better crisis protection than others. Using a large panel of advanced, emerging, and developing countries during 1970-2003, this paper analyzes the behavior of various types of flows: foreign direct investment (FDI), portfolio equity investment, portfolio debt investment, other flows to the official sector, other flows to banks, and other flows to the non-bank private sector. Differences across types of flows are limited with respect to volatility, persistence, cross-country comovement, and correlation with growth at home or in the world economy. However, consistent with conventional wisdom, FDI is found to be the least volatile form of financial flows when taking into account the average size of net or gross flows. The differences are striking during "sudden stops" in financial flows (defined as drops in total net financial inflows by more than 5 percentage points of GDP compared with the previous year): in such episodes, FDI is remarkably stable; portfolio equity also seems to play a limited role; portfolio debt experiences a reversal, though it recovers relatively quickly; and other flows (including bank loans and trade credit) experience severe drops and remain depressed for a few years. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/202 606 $aCapital movements 606 $aInvestments, Foreign 606 $aBalance of payments statistics$2imf 606 $aBalance of payments$2imf 606 $aCapital movements$2imf 606 $aCurrent Account Adjustment$2imf 606 $aEconometrics & economic statistics$2imf 606 $aEconomic and financial statistics$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aExports and Imports$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial account$2imf 606 $aFinancial Aspects of Economic Integration$2imf 606 $aFinancial markets$2imf 606 $aFinancial services industry$2imf 606 $aForeign direct investment$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInternational economics$2imf 606 $aInternational finance$2imf 606 $aInternational Investment$2imf 606 $aInternational Monetary Arrangements and Institutions$2imf 606 $aInvestments, Foreign$2imf 606 $aLong-term Capital Movements$2imf 606 $aShort-term Capital Movements$2imf 606 $aStatistics$2imf 606 $aSudden stops$2imf 607 $aUnited States$2imf 615 0$aCapital movements. 615 0$aInvestments, Foreign. 615 7$aBalance of payments statistics 615 7$aBalance of payments 615 7$aCapital movements 615 7$aCurrent Account Adjustment 615 7$aEconometrics & economic statistics 615 7$aEconomic and financial statistics 615 7$aEmerging and frontier financial markets 615 7$aExports and Imports 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial account 615 7$aFinancial Aspects of Economic Integration 615 7$aFinancial markets 615 7$aFinancial services industry 615 7$aForeign direct investment 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInternational economics 615 7$aInternational finance 615 7$aInternational Investment 615 7$aInternational Monetary Arrangements and Institutions 615 7$aInvestments, Foreign 615 7$aLong-term Capital Movements 615 7$aShort-term Capital Movements 615 7$aStatistics 615 7$aSudden stops 700 $aMauro$b Paolo$01630692 701 $aLevchenko$b Andrei$01143204 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961252403321 996 $aDo Some Forms of Financial Flows Help Protect From Sudden Stops$94372615 997 $aUNINA