Catalogo Articoli (Spogli Riviste)

OPAC HELP

Titolo:
PORTFOLIO CAPITAL FLOWS - HOT OR COLD
Autore:
CLAESSENS S; DOOLEY MP; WARNER A;
Indirizzi:
WORLD BANK,DEPT TECH WASHINGTON DC 20433 HARVARD UNIV CAMBRIDGE MA 02138 WORLD BANK,DEPT INT ECON WASHINGTON DC 20433 UNIV CALIF SANTA CRUZ,DEPT ECON SANTA CRUZ CA 95064
Titolo Testata:
The World Bank economic review
fascicolo: 1, volume: 9, anno: 1995,
pagine: 153 - 174
SICI:
0258-6770(1995)9:1<153:PCF-HO>2.0.ZU;2-W
Fonte:
ISI
Lingua:
ENG
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Physical, Chemical & Earth Sciences
Physical, Chemical & Earth Sciences
Citazioni:
18
Recensione:
Indirizzi per estratti:
Citazione:
S. Claessens et al., "PORTFOLIO CAPITAL FLOWS - HOT OR COLD", The World Bank economic review, 9(1), 1995, pp. 153-174

Abstract

A distinction is often made between short-term and long-term capital flows: the former are deemed unstable hot money and the latter are deemed stable cold money. Using time-series analysis of balance of payments data for five industrial and five developing countries, we find that in most cases the labels ''short-term'' and ''long-term'' do not provide any information about the time-series properties of the flow. In particular, long-term flows are often as volatile as short-term flows,and the time it takes for an unexpected shock to a flow to die out issimilar across flows. Long-term flows are also at least as unpredictable as short-term flows, and knowledge of the type of flow does not improve the ability to forecast the aggregate capital account.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 30/09/20 alle ore 05:01:42