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    What Drives Different Types of Capital Flows and their Volatilities in Developing Asia?

    Cyn-Young | December 2011
    Abstract
    Understanding the determinants of capital inflows is essential to designing an effective policy framework to manage volatile capital flows and their disruptive potential. This paper aims to identify factors that explain the size and volatility of various types of capital flows to developing Asia, vis-à-vis other emerging market economies. The estimates for a panel dataset show that per capita income growth, trade openness, and change in stock market capitalization are important determinants of capital inflows to developing Asia. Trade openness increases the volatility of all types of capital inflows; while change in stock market capitalization, global liquidity growth and institutional quality lowers the volatility. A regional factor plays an important role in determining the size and volatility of capital inflows in emerging Europe and emerging Latin America, suggesting that regional economic cooperation and policy coordination may be an important element in designing a policy framework to manage capital inflows.
    Citation
    Cyn-Young. 2011. What Drives Different Types of Capital Flows and their Volatilities in Developing Asia?. © Taylor and Francis. http://hdl.handle.net/11540/4236.
    ISSN
    1016-8737(Print);1743-517X(e-ISSN)
    Keywords
    Cofinancing
    Development Financing
    Economic Development and Finance
    Finance
    Financial Advisory Services
    Financial Assistance
    Financial Support
    ADB
    Self Financing
    Aid Financing
    Financial Aid
    Development Banks
    Project Impact
    Development Banks
    Asset allocation
    Investment management
    Commercial documents
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    Citable URI
    http://hdl.handle.net/11540/4236
    Metadata
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    Author
    Cyn-Young
    Theme
    Finance
    Economics
    Development
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise