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| "title": "What factors appear to drive private capital flows to developing countries? and how does official lending respond?", |
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| "idno": "436951", |
| "title": "What factors appear to drive private capital flows to developing countries? and how does official lending respond?", |
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| "authors": [ |
| { |
| "first_name": "", |
| "initial": "", |
| "last_name": "", |
| "affiliation": "", |
| "full_name": "Dasgupta, Dipak" |
| }, |
| { |
| "first_name": "", |
| "initial": "", |
| "last_name": "", |
| "affiliation": "", |
| "full_name": "Ratha, Dilip" |
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| "date_created": "2000/07/31", |
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| "date_published": "2010/07/01", |
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| "type": "Policy Research Working Paper", |
| "abstract": "The authors study what drives private capital flows to developing countries, as well as the apparent response of official lending for the years 1978-97. Econometric results reveal that non-foreign direct investment portfolio flows to a country tended to rise in response to: 1) An increase in the current account deficit. 2) A rise in foreign direct investment flows. 3) Higher per capita income. 4) Growth performance. Once those variables were accounted for, private flows did not seem to be influenced by location, and regional factors. In addition, private capital flows (whether foreign direct investment or not) seem to respond positively (with a one-year lag) to World Bank lending commitments. By far the most important determinant of official lending to a developing country, seems to be the external current account balance, or a change in international reserves in the country. Official flows - including World Bank lending - appear to have played a stabilizing (or counter-cyclical) role in response to the volatility of private capital flows, and fluctuations in commodity prices, and GDP growth. (The stabilizing effect is weak, as official flows are only one-tenth of total long-term flows).", |
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| "name": "english", |
| "code": "en" |
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| "volume": "1", |
| "number": "WPS2392", |
| "url": [], |
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| "disclaimer": "The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.", |
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| "keywords": [ |
| { |
| "id": "", |
| "name": "private capital flows", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "developing countries", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "lending strategy analysis", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "current account deficits", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "foreign direct investments", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "per capita income", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "economic growth", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "performance indicators", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "external accounts", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "econometric models", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "bank lending strategy", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "commodity prices", |
| "vocabulary": "World Bank" |
| }, |
| { |
| "id": "", |
| "name": "stabilization", |
| "vocabulary": "World Bank" |
| } |
| ], |
| "themes": [], |
| "reproducibility": { |
| "statement": "", |
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| "uri": "", |
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| "date_stamp": "2024-05-12 18:16:31", |
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