International Capital Flows, External Assets and Output Volatility

This paper proposes a new perspective on international capital flows and countries'long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated...

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Bibliographic Details

Published in:	MAGKS - Joint Discussion Paper Series in Economics (Band 43-2014)
Main Authors:	Hoffman, Matthias, Krause, Michael, Tillmann, Peter
Format:	Article
Language:	English
Published:	Philipps-Universität Marburg 2014
Subjects:	net foreign assets Wirtschaft precautionary savings productivity growth uncertainty Capital flows Economics
Online Access:	PDF Full Text
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