Capital flows, exchange rate flexibility, and the real exchange rate /

Capital flows, exchange rate flexibility, and the real exchange rate /

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Bibliographic Details
Author / Creator:	Combes, Jean-Louis, 1965- issuing body.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2011.
Description:	1 online resource (33 pages).
Language:	English
Series:	IMF working paper ; WP/11/9 IMF working paper ; WP/11/9.
Subject:	Capital movements. Foreign exchange rates. Capital movements -- Econometric models. Foreign exchange rates -- Econometric models. Money -- Tables. Capital movements. Capital movements -- Econometric models. Foreign exchange rates. Foreign exchange rates -- Econometric models. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12498948

Hidden Bibliographic Details
Other authors / contributors:	Kinda, Tidiane, issuing body. Plane, Patrick, issuing body. International Monetary Fund. African Department, issuing body.
ISBN:	1283563800 9781283563802 9781455284160 1455284165 145521485X 9781455214853
Notes:	At head of title: African Department. Title from PDF title page (IMF Web site, viewed March 24, 2011). Available in PDF, ePUB, and Mobi formats on the Internet. Includes bibliographical references (pages 21-26).
Summary:	This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation. Among private flows, portfolio investment has the highest appreciation effect-almost seven times that of foreign direct investment or bank loans-and private transfers have the lowest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real exchange rate stemming from capital inflows.

Description
Summary:	This paper analyzes the impact of capital inflows and exchange rate flexibility on the real exchange rate in developing countries based on panel cointegration techniques. The results show that public and private flows are associated with a real exchange rate appreciation. Among private flows, portfolio investment has the highest appreciation effect-almost seven times that of foreign direct investment or bank loans-and private transfers have the lowest effect. Using a de facto measure of exchange rate flexibility, we find that a more flexible exchange rate helps to dampen appreciation of the real exchange rate stemming from capital inflows.
Item Description:	At head of title: African Department. Title from PDF title page (IMF Web site, viewed March 24, 2011). Available in PDF, ePUB, and Mobi formats on the Internet.
Physical Description:	1 online resource (33 pages).
Bibliography:	Includes bibliographical references (pages 21-26).
ISBN:	1283563800 9781283563802 9781455284160 1455284165 145521485X 9781455214853