Capital flows to developing countries
are small and take mostly the form of loans rather than
direct foreign investment. We build a simple model of
North-South capital flows that highlights the interplay
between diminishing returns, production risk and sovereign
risk. This model generates a set of country portfolios and a
world distribution of capital stocks that resemble those in
the data.
Bibliographic Details
| Main Authors: |
Loayza, Norman,
Kraay, Aart,
Ventura, Jaume,
Servén, Luis |
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| Language: | English
en_US |
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| Published: |
World Bank, Washington, D.C.
2004-04
|
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| Subjects: | CAPITAL FLOW,
DEVELOPING COUNTRIES,
LOANS,
FOREIGN INVESTMENT,
CAPITAL STOCKS,
LENDING,
IMPORTS,
POOR COMMUNITIES,
HUMAN CAPITAL,
TECHNOLOGY,
GROSS DOMESTIC PRODUCT ASSET PRICES,
ASSETS,
ASYMMETRIC INFORMATION,
BENCHMARK,
BONDS,
BORROWING,
CAPITAL FLOWS,
DEBT,
DIMINISHING RETURNS,
DISTRIBUTION OF WEALTH,
EQUALIZATION,
EQUATIONS,
EQUILIBRIUM,
EXPECTED RETURN,
EXPECTED VALUE,
EXPROPRIATION,
EXTERNALITY,
FINANCIAL MARKETS,
FINANCIAL TRANSACTIONS,
FOREIGN ASSETS,
FOREIGN DIRECT INVESTMENT,
FOREIGN INVESTORS,
GDP,
INCOME,
INEFFICIENCY,
INTEREST RATE,
INTEREST RATES,
INTERNATIONAL FINANCIAL TRANSACTIONS,
INTERNATIONAL TRADE,
LAWS,
MARGINAL PRODUCT,
MARGINAL UTILITY,
MARGINAL VALUE,
MORAL HAZARD,
NASH EQUILIBRIUM,
PENALTIES,
PORTFOLIO,
PORTFOLIO DIVERSIFICATION,
PORTFOLIOS,
PROBABILITY OF DEFAULT,
PRODUCTION TECHNOLOGY,
PRODUCTIVITY,
RISK PREMIUM,
RISK SHARING,
SECURITIES,
SOVEREIGN RISK,
WEALTH, |
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| Online Access: | http://documents.worldbank.org/curated/en/2004/06/4979487/country-portfolios
https://hdl.handle.net/10986/14013
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