Domestic Saving, Current Accounts, and International Capital Mobility

Domestic Saving, Current Accounts, and International Capital Mobility
Title Domestic Saving, Current Accounts, and International Capital Mobility PDF eBook
Author Gerard Caprio
Publisher
Pages 40
Release 1984
Genre Capital movements
ISBN

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Domestic Saving, current accounts, and international capital mobility

Domestic Saving, current accounts, and international capital mobility
Title Domestic Saving, current accounts, and international capital mobility PDF eBook
Author Gerard Caprio
Publisher
Pages 0
Release 1984
Genre
ISBN

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International Capital Mobility and External Account Determination

International Capital Mobility and External Account Determination
Title International Capital Mobility and External Account Determination PDF eBook
Author Anthony J. Makin
Publisher Springer
Pages 157
Release 1994-08-16
Genre Business & Economics
ISBN 0230379095

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This book examines the causes, consequences and policy significance of international capital movements and nations' external account imbalances. Traditional theoretical approaches to balance of payments analysis, such as the classical, elasticities, absorption, monetary and Mundell-Fleming models are critically evaluated against an extended international macroeconomic accounting framework. More meaningful capital theoretic models then link saving, investment and foreign capital movements to highlight the macroeconomic gains from international capital mobility and international trade in saving.

Capital Flows, Saving, and Investment in the World Economy

Capital Flows, Saving, and Investment in the World Economy
Title Capital Flows, Saving, and Investment in the World Economy PDF eBook
Author Showkat Ali
Publisher Taylor & Francis
Pages 200
Release 1998
Genre Business & Economics
ISBN 9780815330738

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This study examines the major macroeconomic determinants and the structural relationships of current account variability, capital flows, saving and investment in open economies that are linked to the international financial markets. It explores the appropriateness of domestic policy responses (such as money stock growth, government spending, openness criteria, GDP growth) and the size of population or the impact of external shocks (such as exchange rate variability and the terms of trade uncertainty) for determining the domestic saving-investment comovement and capital flows worldwide. This analysis finds that even high positive correlations between national saving and investment rates could naturally arise within a perfect capital mobility framework where domestic policy variability and external shocks are likely to play a significant role for capital inflow.

Domestic Saving and International Capital Flows Reconsidered

Domestic Saving and International Capital Flows Reconsidered
Title Domestic Saving and International Capital Flows Reconsidered PDF eBook
Author Alan M. Taylor
Publisher
Pages 48
Release 1994
Genre Capital market
ISBN

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A long literature since Feldstein and Horioka's seminal contribution documents the strong correlation of domestic saving and investment rates since the 1960s. According to conventional wisdom, the result provides evidence of international capital market imperfections. The macroeconomic theory of small open economies prescribes a relationship between the composition of aggregate demand and its relative price structure, a linkage hitherto ignored in the saving-investment literature. Theory and evidence also suggest a role for growth and demographic effects, well known in previous studies. If one controls for these effects, the standard correlation of saving and investment disappears. International capital markets may be better integrated than once thought, and the former correlations may have been spurious. The pattern of domestic investment rates is better explained by domestic price distortions and other variables than by domestic saving constraints.

Savings, Investment and International Capital Flows

Savings, Investment and International Capital Flows
Title Savings, Investment and International Capital Flows PDF eBook
Author Linda Louise Tesar
Publisher
Pages 62
Release 1988
Genre Capital movements
ISBN

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International Capital Flows

International Capital Flows
Title International Capital Flows PDF eBook
Author Martin Feldstein
Publisher University of Chicago Press
Pages 500
Release 2007-12-01
Genre Business & Economics
ISBN 0226241807

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Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.