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How Persistent are International Capital Flows?

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  • Galstyan, Vahagn

Abstract

This paper documents the dynamic properties of the current account, trade balance and international capital flows. For this purpose, two approaches are taken: probit and a nonparametric estimation. The probabilistic approach shows that, in general, deficits and net inflows tend to be more persistent than surpluses and net outflows. This result is robust to either specification of pooled and country-specific probits. The results of non-parametric estimation are in line with the results obtained from the probit. --

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Economics Discussion Papers with number 2009-13.

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Date of creation: 2009
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Handle: RePEc:zbw:ifwedp:7492

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Keywords: Capital flows; persistence;

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