Capital Flows to EU New Member States : Does Sector Destination Matter? /

The recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows. This paper empirically argues that the sectors into which capital flows determines their impact on GDP growth. Applying data from EU New Member States, it is found that capital flow...

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Xehetasun bibliografikoak
Egile nagusia: Mitra, Pritha
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2011.
Saila:IMF Working Papers; Working Paper ; No. 2011/067
Sarrera elektronikoa:Full text available on IMF
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245 1 0 |a Capital Flows to EU New Member States :   |b Does Sector Destination Matter? /  |c Pritha Mitra. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2011. 
300 |a 1 online resource (27 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 The recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows. This paper empirically argues that the sectors into which capital flows determines their impact on GDP growth. Applying data from EU New Member States, it is found that capital flows into real estate have a greater impact on swings in GDP than other sectors, irrespective of a country's exchange rate or fiscal policy. Consequently, as new waves of capital inflows spread to emerging markets, policies may usefully focus on supporting capital inflows towards economic sectors that minimize large swings in GDP. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2011/067 
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