Long-Term Capital Movements /

International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals-shifts in relative output levels, the stock of public debt and demographic factors-can do much to explain the evo...

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Xehetasun bibliografikoak
Egile nagusia: Lane, Philip
Beste egile batzuk: Milesi-Ferretti, Gian
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2001.
Saila:IMF Working Papers; Working Paper ; No. 2001/107
Sarrera elektronikoa:Full text available on IMF
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020 |z 9781451852981 
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100 1 |a Lane, Philip. 
245 1 0 |a Long-Term Capital Movements /  |c Philip Lane, Gian Milesi-Ferretti. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2001. 
300 |a 1 online resource (49 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this paper, we show that a small set of fundamentals-shifts in relative output levels, the stock of public debt and demographic factors-can do much to explain the evolution of net foreign asset positions. In addition, we highlight the role that "external wealth" plays in determining the behaviour of the trade balance, and we provide some evidence that a portfolio balance effect exists: real interest rate differentials are inversely related to net foreign asset positions. 
538 |a Mode of access: Internet 
700 1 |a Milesi-Ferretti, Gian. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/107 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2001/107/001.2001.issue-107-en.xml  |z IMF e-Library