Pregled bibliografske jedinice broj: 584298
Regional disparities in pre- and post-crisis global capital flows
Regional disparities in pre- and post-crisis global capital flows // Proceedings of the 6th International Conference “An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future” / Galetić, Lovorka ; Šimurina, Jurica (ur.).
Zagreb, 2012. str. 158-170 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
CROSBI ID: 584298 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Regional disparities in pre- and post-crisis global capital flows
Autori
Globan, Tomislav
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
Proceedings of the 6th International Conference “An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future”
/ Galetić, Lovorka ; Šimurina, Jurica - Zagreb, 2012, 158-170
ISBN
978-953-6025-57-2
Skup
6th International Conference “An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future”
Mjesto i datum
Šibenik, Hrvatska, 13.06.2012. - 16.06.2012
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
capital flow composition; emerging and developing countries; financial crisis; foreign direct investment
Sažetak
The aim of this paper is to analyse the dynamics and regional distribution of global capital flows before and after the recent financial crisis, and to answer whether the capital flow composition amongst emerging market economy (EME) regions could explain possible disparities in the behaviour of capital flows. The analysis shows that, although every EME region experienced a sharp reduction in capital flows during the crisis, the crisis effects and the post-crisis recovery have not been even across regions. Capital flows to Developing Asia and Latin America increased quickly after the crisis, while CEECs and CIS have experienced significantly higher amounts of total capital reversals and rather slow recovery since. Further analysis shows that Developing Asia and Latin America have recently experienced a decline in the relative importance of foreign loans in total flows vis-à-vis FDI flows, while the trend in CEECs and CIS was opposite. Simple regression analysis reveals that a higher pre-crisis share of FDI in total capital flows is indeed associated with a smaller magnitude of capital reversals during the crisis. Consequently, one could deduce that the pre-crisis composition of capital flows in CEECs and CIS made those countries more vulnerable to crisis-induced capital reversals.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
