Composition of capital flows
a survey
Edición de la obra Composition of capital flows
| Autor | Koralai Kirabaeva |
|---|---|
| Editorial | National Bureau of Economic Research |
| Fecha de publicación | 2010 |
| Lugar | Cambridge, MA |
| Idioma | inglés |
| Formato | [electronic resource] : |
| LCCN | 2011655737 |
| Serie | NBER working paper series -- working paper 16492 · Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16492. |
| Número de Cutter | K58c |
"We survey several mechanisms that explain the composition of international capital flows: foreign direct investment, foreign portfolio investment and debt flows (bank loans and bonds). We focus on information frictions such as adverse selection and moral hazard, and exposure to liquidity shocks, and discuss the following implications for composition of capital flows: 1. home court information advantage; 2. panic-based capital-flow reversals; 3. information-liquidity trade-off in the presence of source and host country liquidity shocks; 4. moral hazard in international debt contracts; and 5. risk sharing role of domestic bonds in the presence of home bias in goods and equity"--National Bureau of Economic Research web site.