Kinda, Tidiane (2008): Infrastructures et flux de capitaux privés vers les pays en développement. Published in: Revue Economique , Vol. 59, No. 3 (2008): pp. 537-549.
Download (103Kb) | Preview
This paper shows the relevance of physical infrastructure and financial development for developing countries attractiveness to private capital (Foreign Direct Investments -FDI- and portfolio investments). Contrary to other studies, this analysis is based on “push-pull factors” and the “Lucas paradox” theoretical approaches, and takes into account the relationship between components of capital flows. The analysis also highlights the importance of non-linearity effects when assessing the role of infrastructure for capital inflows and the specificity of Sub-Saharan African countries compared to other developing countries.
|Item Type:||MPRA Paper|
|Original Title:||Infrastructures et flux de capitaux privés vers les pays en développement|
|English Title:||Infrastructure and private capital flows in developing countries|
|Keywords:||Foreign Direct Investment; Portfolio Investment; Physical Infrastructures; Financial Development; 3SLS|
|Subjects:||F - International Economics > F3 - International Finance > F32 - Current Account Adjustment; Short-Term Capital Movements
F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment; Long-Term Capital Movements
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F41 - Open Economy Macroeconomics
|Depositing User:||Tidiane Kinda|
|Date Deposited:||12. Dec 2009 16:09|
|Last Modified:||19. Feb 2013 13:28|
Alfaro L., Kalemi-Ozcan S., Vadym V. , “Why doesn’t Capital Flow from Rich to Poor Countries”, Forthcoming Review of Economics and Statistics.
Alfaro L., Kalemi-Ozcan S., Vadym V. , “Capital Flows in a Globalized World: The Role of Policies and Institutions”, NBER Working Paper No. 11696.
Asiedu E. , “On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different?”, World Development, 30 (1), p. 107-119.
Calvo G., Leiderman L., Reinhart C. , “Inflows of Capital to Developing Countries in the 1990’s”, Journal of Economic Perspectives, 10 (2), p. 123-139.
Coval J.D., Moskowitz T.J. , “The Geography of Investment: Informed Trading and Asset Prices”, Journal of Political Economy, 109 (4), p. 811-841.
Fernandez-Arias E., Montiel P. , “The Surge in Capital Inflows to Developing Countries: An Analytical Overview”, World Bank Economic Review, 10 (1), p. 51-77.
Ferrucci G., Herzberg V., Soussa F., Taylor A. , “Understanding Capital Flows to Emerging Market Economies”, Financial Stability Review, June (16), p. 89-97.
Hausmann R., Fernandez-Arias E. , “Foreign Direct Investment: Good Cholesterol”, Inter-American Development Bank Working Paper No. 417.
Kim Y. , “Causes of Capital Flows in Developing Countries”, Journal of International Money and Finance, 19 (2), p. 235-253.
Kumar N. , “Infrastructure Availability, Foreign Direct Investment Inflows and Their Export-orientation: A Cross-Country Exploration”. RIS Discussion Paper No. 26.
Levine R. , “Financial development and economic growth: views and agenda”, Journal of Economic Literature, 35 (2), p. 688-726.
Loree D.W., Guisinger S.E. , “Policy and Non-Policy Determinants of U.S. Equity Foreign Direct Investment”, Journal of International Business Studies, 26 (2), p. 281-299.
Lucas R.E. , “Why Doesn’t Capital Flow from Rich to Poor Countries?”, American Economic Review, 80 (2), p. 92-96.
Ngowi H.P. , “Can Africa Increase Its Global Share of Foreign Direct Investment (FDI)”, West Africa Review, 2 (2), p. 1-22.
Portes R., Rey H. , “The Determinants of Cross-Border Equity Transaction Flows”, Journal of International Economics, 65 (2), p. 269-296.
Ramamurti R., Doh J. , “Rethinking foreign infrastructure investment in developing countries”, Journal of World Business, 39 (2), p. 151-167.
Reinhart C., Rogoff K. , “Serial Default and the “Paradox” of Rich to Poor Capital Flows”, American Economic Review, 94 (2), p. 52-58.
Root F., Ahmed A. , “Empirical determinants of manufacturing direct foreign investment in developing countries”, Economic Development and Cultural Change, 27 (4), p. 751-767.
Shaw E.S. , Financial Deepening in Economic Development, Oxford University Press.