Have a personal or library account? Click to login
Pull Factors and Capital Inflows: Empirical insights from Transformative Dynamics in Southeast Europe Cover

Pull Factors and Capital Inflows: Empirical insights from Transformative Dynamics in Southeast Europe

Open Access
|Dec 2024

References

  1. Alfaro, L., Kalemli-Ozcan, S., & Volosovych, V. (2007). Capital Flows in a Globalized World: The Role of Policies and Institutions. NBER Chapters. In: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences (pp. 19-72), National Bureau of Economic Research, Inc.
  2. Baek, S. G., & Song, C. Y., (2016). On the Determinants of Surges and Stops in Foreign Loans: An Empirical Investigation. Open Economic Review, 27, 405–445. DOI: https://doi.org/10.1007/s11079-015-9379-3
  3. Barrot, L. D., & Serven, L. (2018). Gross capital flows, common factors, and the global financial cycle (Policy Research working paper, No. WPS 8354). Washington, D.C.: World Bank Group. Retrieved from http://documents.worldbank.org/curated/en/550301519324136710/Gross-capital-flows-common-factors-and-the-global-financial-cycle
  4. Belke, A., & Volz, U. (2018). Capital Flows to Emerging Markets and Developing Economies Global Liquidity and Uncertainty versus Country-Specific Pull Factors. German Development Institute. Retrieved from: https://www.idos-research.de/uploads/media/DP_23.2018_01.pdf
  5. Biesebroeck, J.V. (2003). Exporting raises productivity in Sub-Saharan Africa (NBR Working Paper 10020). National Bureau of Economic Research. Retrieved from: http://www.nber.org/papers/w10020
  6. Byrne, P.J. & Fiess, N. (2016). International capital flows to emerging markets: national and global determinants. Journal of International Money and Finance, 61, 82–100. DOI: http://dx.doi.org/doi:10.1016/j.jimonfin.2015.11.005
  7. Calvo, S., Leiderman, L., & Reinhart, C. M., (1993). Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors. Staff Papers. International Monetary Fund, 40(1), 108. Retrieved from: https://www.elibrary.imf.org/view/journals/024/1993/004/article-A005-en.xml
  8. Calvo, S. & Reinhart, C. (1996). Capital flows to Latin America: Is there evidence of contagion effects? (Policy Research Working Paper Series 1619). The World Bank.
  9. Cerutti, E. (2015). Push Factors and Capital Flows to Emerging Markets: Why (IMF Working Paper - WP/15/127). Retrieved from: https://www.imf.org/external/pubs/ft/wp/2015/wp15127.pdf
  10. Chinn, M. & Ito, H., (2008). A new measure of financial openness. Journal of Comparative Policy Analysis, 10(3), 309–322. Retrieved from: https://web.pdx.edu/~ito/kaopen_Chinn-Ito_hi0523.pdf
  11. Corbo, V. & Hernandez, L. (2001). Private Capital Inflows and the Role of Economic Fundamentals. In Larrain, F. (ed.). Capital Flows, Capital Controls, and Currency Crisis: Latin America in the 1990s. Michigan University Press.
  12. Eichengreen, B., Gupta, P. & Masetti, O. (2018). Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? Asian Economic Papers, 17(1), 22–41. DOI: https://doi.org/10.1162/asep_a_00583
  13. Fernandez-Arias, E. & P. Montiel, (1996). The Surge in Capital Inflows to Developing Countries: An Analytical Overview. World Bank Economic Review, 10(1), 51–77. DOI: https://doi.org/10.1093/wber/10.1.51
  14. Fratzscher, M. (2012). Capital flows, push versus pull factors and the global financial crisis. Journal of International Economics, 88(2), 341–356. DOI: https://doi.org/10.1016/j.jinteco.2012.05.003
  15. Ganić, M., & Novalić, A. (2023). Does regional trade integration strengthen or weaken capital mobility? New evidence from four free trade areas. Economics and Business Review, 9(3), 239–264. DOI: https://doi.org/10.18559/ebr.2023.3.795
  16. Ganić M. (2022). Does institutional quality matter for the IDP hypothesis? Evidence from emerging Europe. Croatian Economic Survey, 24(1), 83–113. Retrieved from: https://hrcak.srce.hr/279218
  17. Ganić, M., & Hrnjic, M. (2019). Does a country's business regulatory environment affect its attractiveness to FDI? Empirical evidence from Central and Southeast European countries. Eastern Journal of European Studies, 10(2), 89–105. Retrieved from: http://ejes.uaic.ro/articles/EJES2019_1002_GAN.pdf
  18. Ganić, M. (2021). Emerging Balkans and Its Recent Experience with Transition. In Financial Globalization in the Emerging Balkans. Palgrave McMillan. DOI: https://doi.org/10.1007/978-3-030-65009-4_3
  19. Ghosh, A.R., M.S. Qureshi, J. Kim, & J. Zalduendo, (2014). Surges. Journal of International Economics, 92(2), 266–285. DOI: 10.1016/j.jinteco.2013.12.007
  20. Ghosh, A. (1995). International capital mobility among the major industrialized countries: Too little or too much. The Economic Journal, 105(428), 107–128. DOI: https://doi.org/10.2307/2235322
  21. Giordani, P. E., Ruta, M., Weisfeld, H. & Zhu, L. (2017). Capital Flow Deflection. Journal of International Economics, 105, 102–118. DOI: https://doi.org/10.1016/j.jinteco.2016.12.007
  22. Haque, N. U. (1997). Causes of Capital Inflows and Policy Responses to Them. Finance and Development. Retrieved from: https://www.imf.org/external/pubs/ft/fandd/1997/03/pdf/ulhaque.pdf
  23. Lopez-Mejia, A. (1999). Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses (IMF Working Papers 1999/017). International Monetary Fund. Retrieved from: https://www.imf.org/external/pubs/ft/wp/1999/wp9917.pdf
  24. Kim, D. H., Lin, S. C., & Suen, Y. B. (2012). The simultaneous evolution of economic growth, financial development, and trade openness. The Journal of International Trade & Economic Development, 21(4), 513–537. DOI: https://doi.org/10.1080/09638199.2010.497933
  25. Kim, S., Sunghyun, K., & Yoonseok, C. (2013). Determinants of International Capital Flows in Korea. Korea and the World Economy, 14(3), 1–28. Retrieved from: http://www.akes.or.kr/wp-content/uploads/2018/03/14.3.2-Kim_Kim_Choi-447-474.pdf
  26. Koczan, Z. (2017). Late to the game? Capital flows to the Western Balkans (Working Paper No. 2017/092). International Monetary Fund (IMF). Retrieved from: https://www.imf.org/en/Publications/WP/Issues/2017/04/07/Late-to-the-game-Capital-flows-to-the-Western-Balkans-44811-1-26.
  27. Koepke, R. (2019). What drives capital flows to emerging markets? A survey of the empirical literature. Journal of Economic Surveys, 33(2), 516–540. DOI: 10.1111/joes.12273
  28. Kose, M.A., & E. Prasad, (2004). Capital Accounts: Liberalize or Not? Finance & Development.
  29. Lankes, H. P., Stern, N., Blumenthal, M. W., & Weigl, J. (1999). Capital Flows to Eastern Europe. In International Capital Flows (pp. 57–110). University of Chicago Press. DOI: https://doi.org/10.7208/9780226241807-004
  30. Lane, Philip R. & Gian Maria Milesi-Ferretti, (2021). The external wealth of nations: September 2021 update. The Hutchins Center on Fiscal and Monetary Policy.
  31. Mercado, R. J. (2020). Bilateral capital flows: gravity, push, and pull. The Southeast Asian Central Banks SEACEN Research and Training Centre (pp. 1–49). Retrieved from: https://www.bis.org/ifc/publ/ifcb52_22.pdf
  32. Mercado, R., & Park, C.-Y. (2011). What Drives Different Types of Capital Flows and Their Volatilities in Developing Asia? (ADB Working Paper Series on Regional Economic Integration, pp. 1–44). Retrieved from: http://hdl.handle.net/11540/2026
  33. Milesi-Ferretti, G. M., & Tille, C. (2011). The great retrenchment: International capital flows during the global financial crisis. Economic Policy, 26(66), 289–346. DOI: https://doi.org/10.1111/j.1468-0327.2011.00263.x
  34. Montiel, P. & Reinhart, C. (1999). Do Capital Controls and Macroeconomic Policies Influence the Volume and Composition of Capital Flows? Evidence from the 1990's. Journal of International Money and Finance, 18(4), 619–635.
  35. Mudyazvivi, E. (2016). An analysis of push and pull factors of capital flows in. Development Finance Center (DEFIC) Graduate School of Business. University of Cape Town.
  36. Murgasova, Z., Ilhai, N., Miniane, J., Scott, A., & Hollar, I. V. (2015). The Western Balkans: 15 Years of Economic Transition (IMF Regional Economic Issues Special Report).
  37. Olaberria, E., (2015). US Long-Term Interest Rates and Capital Flows to Emerging Economies. Journal of International Commerce, Economics and Policy, 6(2) DOI:10.1142/S1793993315500088
  38. Obstfeld, M. (2012). Financial flows, financial crisis and global imbalances. Journal of International Monetary and Finance, 31(3), 469–480. DOI: 10.1016/j.jimonfin.2011.10.003
  39. Oloko, T. F. (2018). Portfolio diversification between developed and developing stock markets: The case of US and UK investors in Nigeria. Research in International Business and Finance, 45, 219–232. DOI: https://doi.org/10.1016/j.ribaf.2017.07.153
  40. Sarno, L., Tsiakas, I. & Ulloa, B. (2016). What drives international portfolio flows? Journal of International Money and Finance, 60(C), 53–72. DOI: https://doi.org/10.1016/j.jimonfin.2015.03.006
  41. Taylor, M., & Sarno, L. (1997). Capital flows to developing countries: long- and short-term determinants. The World Bank Economic Review, 11(3), 451–470. DOI: https://doi.org/10.1093/wber/11.3.451.
  42. World Development indicators (2021). World Development Indicators (WDI) database (2021). World Bank.
DOI: https://doi.org/10.2478/ngoe-2024-0020 | Journal eISSN: 2385-8052 | Journal ISSN: 0547-3101
Language: English
Page range: 12 - 22
Submitted on: Jul 1, 2024
Accepted on: Nov 1, 2024
Published on: Dec 30, 2024
Published by: University of Maribor
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2024 Mehmed Ganić, Nedim Gavranović, published by University of Maribor
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.