Logo
Munich Personal RePEc Archive

What Drives Capital Flows to Emerging Markets? A Survey of the Empirical Literature

Koepke, Robin (2015): What Drives Capital Flows to Emerging Markets? A Survey of the Empirical Literature.

This is the latest version of this item.

[thumbnail of MPRA_paper_75887.pdf]
Preview
PDF
MPRA_paper_75887.pdf

Download (712kB) | Preview

Abstract

This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified using the traditional “push vs. pull” framework, which is augmented by a distinction between cyclical and structural factors. Push factors are found to matter most for portfolio flows, somewhat less for banking flows, and least for FDI. Pull factors matter for all three components, but most for banking flows. A historical perspective suggests that the recent literature may have overemphasized the importance of cyclical factors at the expense of longer-term structural trends.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.