The volatility of capital flows in emerging markets : measures and determinants / by Maria Sole Pagliari and Swarnali Ahmed Hannan.

By:

Pagliari, Maria Sole [author.]

Contributor(s):

Hannan, Swarnali Ahmed [author.]

Material type: Text

TextSeries: IMF working paper ; WP/17/41.Publisher: [Washington, District of Columbia] : International Monetary Fund, 2017Copyright date: ©2017Description: 1 online resource (57 pages) : illustrations (some color), tables, graphsContent type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

1475585306
9781475585308

Subject(s):

Genre/Form:

Electronic books.

DDC classification:

332.042 23

LOC classification:

HG3891

Online resources:

Click here to access online

Abstract: Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 65 countries over the period 1970Q1-2016Q1, we construct three measures of volatility, for total capital flows and key instruments. Second, we perform panel regressions to understand the determinants of volatility. The measures show that the volatility of all instruments is prone to bouts, rising sharply during global shocks like the taper tantrum episode. Capital flow volatility thus remains a challenge for policy makers. The regression results suggest that push factors can be more important than pull factors in explaining volatility, illustrating that the characteristics of volatility can be different from those of the flows levels.

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Item type	Home library	Collection	Call number	Materials specified	Status	Date due	Barcode
Electronic-Books	OPJGU Sonepat- Campus	E-Books EBSCO			Available

Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 65 countries over the period 1970Q1-2016Q1, we construct three measures of volatility, for total capital flows and key instruments. Second, we perform panel regressions to understand the determinants of volatility. The measures show that the volatility of all instruments is prone to bouts, rising sharply during global shocks like the taper tantrum episode. Capital flow volatility thus remains a challenge for policy makers. The regression results suggest that push factors can be more important than pull factors in explaining volatility, illustrating that the characteristics of volatility can be different from those of the flows levels.

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