What Macroeconomic Conditions Best Explain Southeast Asian Capital Flows?
The paper examines the capital flows of seven Southeast Asian emerging economies over the last decade and a half. It first evaluates the role of economic conditions within a country itself, including the country's domestic financial conditions and the openness of its financial markets to international capital flows. Then, the role of the counties' own domestic conditions is compared with regional influences and with the importance of macroeconomic conditions elsewhere, such as in Europe, and in the largest single recipient of the outflows, the United States. Key results include: (1) domestic capital market conditions are the best predictors (among the variables that we examine) of the capital flows of these countries; (2) capital market openness is of little use in predicting changes in capital flows; and, (3) while the macroeconomic conditions of the United States are strong predictors of subsequent GDP growth in the region, they are not, by themselves, good predictors of the region's capital flows.
|Date of creation:||Jul 2007|
|Contact details of provider:|| Postal: Guildford, Surrey GU2 5XH|
Phone: (01483) 259380
Fax: (01483) 259548
Web page: http://www.surrey.ac.uk/economics/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:sur:surrec:1407. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ioannis Lazopoulos)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.