An evaluation of the conventional wisdom on capital flow volatility: FDI inter-flow correlation and financial account volatility
by Perea, Jose Ramon, M.A., UNIVERSITY OF SOUTHERN CALIFORNIA, 2006, 124 pages; 1438533

Abstract:

This thesis investigates whether one of the main challenges to the conventional wisdom on capital flows volatility, based on the possibility of negative correlations between different types of flows, is empirically relevant for the case of Foreign Direct Investment (FDI). This claim has been suggested as a possible limitation of the view of FDI as the most desirable flow for financing purposes, but we know of no attempt to study its relevance empirically. Our analysis fails to prove a systematic presence of these interactions between flows. Instead, and in line with the predictions of the traditional literature on capital flows volatility, we show that a large share of FDI in total capital flows is a significant predictor of a stable financial account.

 
AdviserJeffrey Nugent
SchoolUNIVERSITY OF SOUTHERN CALIFORNIA
SourceMAI/ 45-02, p. , Feb 2007
Source TypeThesis
SubjectsFinance
Publication Number1438533
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