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Decomposition of external capital inflows and outflows in the small open transition economy (The case analysis of the Slovak republic)

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  • Mirdala, Rajmund

Abstract

The main objective of the proceeding is to perform a logical decomposition of the structure of external capital inflows and outflows in the Slovak republic in order to analyze the main trends in the external financial integration and its development through the period of 1994-2006. In order to fulfill our objective we observe the changes in the structure of external financial assets and liabilities in order to provide the explanation of main trends in the external capital portfolio of the Slovak republic. Finally, we explore the implications of the accumulated stock of external capital for future trade and current account balances.

Suggested Citation

  • Mirdala, Rajmund, 2007. "Decomposition of external capital inflows and outflows in the small open transition economy (The case analysis of the Slovak republic)," MPRA Paper 7248, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:7248
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    References listed on IDEAS

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    1. Maurice Obstfeld, 1998. "The Global Capital Market: Benefactor or Menace?," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 9-30, Fall.
    2. Gian Maria Milesi-Ferretti, & Philip R. Lane, 2003. "International Financial Integration," The Institute for International Integration Studies Discussion Paper Series iiisdp03, IIIS.
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    5. Fratzscher, Marcel & Müller, Gernot J. & Bussière, Matthieu, 2004. "Current accounts dynamics in OECD and EU acceding countries - an intertemporal approach," Working Paper Series 311, European Central Bank.
    6. János Kornai, 2006. "Velká transformace střední a východní Evropy: úspěch a zklamání
      [The great transformation of central and eastern Europe: success and disappointment]
      ," Politická ekonomie, University of Economics, Prague, vol. 2006(4), pages 435-466.
    7. Frederic S. Mishkin, 2001. "Financial Policies and the Prevention of Financial Crises in Emerging Market Countries," NBER Working Papers 8087, National Bureau of Economic Research, Inc.
    8. Josef C. Brada & Vladimír Tomšík, 2004. "Zahraniční investice a náchylnost k měnovým krizím: zkušenosti tranzitivních ekonomik
      [Foreign investment and perceptions of vulnerability to foreign exchange crises: evidence from transition econo
      ," Politická ekonomie, University of Economics, Prague, vol. 2004(3), pages 313-329.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    financial integration; external capital structure; foreign financial assets; foreign financial liabilities; transition economies;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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