The liberalisation of capital outflows in CIBS: what opportunities for other developing countries?

Gottschalk, Ricardo and Sodre, Cecilia Azevedo (2007) The liberalisation of capital outflows in CIBS: what opportunities for other developing countries? In: WIDER Conference on Southern Engines of Global Growth: China, India, Brazil and South Africa (CIBS), 7-8 September 2007, Helsinki.

Full text is not in this repository.

Official URL: http://tinyurl.com/2udb6xz

Abstract

This paper examines the implications of the liberalization of capital outflows in China, India, Brazil, and South Africa (CIBS) for other developing countries. It focuses on their prospects of attracting not only foreign direct investment (FDI), but also portfolio capital flows from CIBS. To inform the discussion, two steps are taken: first, in order to identify the type of capital flows that might come from CIBS, the paper briefly describes capital account liberalization measures undertaken by CIBS to date and future intended liberalization. Second, it maps geographic distribution of outward FDI and foreign portfolio investment in the recent past, which are taken as possible predictors of future flows. The paper shows that portfolio investment goes mainly to OECD countries and offshore financial centres, and only a small share to developing countries. But, within developing countries, CIBS’ neighbouring countries have shown a greater ability to attract this type of investment, compared with other developing countries.

Item Type:Conference or Workshop Item (Paper)
Additional Information:

Published as a WIDER working paper, 2008.

Research Areas:Business School > Economics and International Development
ID Code:5613
Useful Links:
Deposited On:11 May 2010 10:23
Last Modified:06 Feb 2013 10:57

Repository staff and depositor only: item control page

Full text downloads (NB count will be zero if no full text documents are attached to the record)

Downloads per month over the past year