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Discussion Paper Details

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Title: External Capital Structure: Theory and Evidence

Author(s): Philip R. Lane and Gian Maria Milesi-Ferretti

Publication Date: October 2000

Keyword(s): External Debt, Foreign Direct Investment, Net Foreign Assets and Portfolio Equity

Programme Area(s): International Macroeconomics

Abstract: Recent years have witnessed a change in the composition of capital flows to developing countries, and FDI and equity flows have been playing an increasing role. In this paper we discuss the challenges for international macroeconomics that these developments pose and characterize stylized facts associated with the structure of external liabilities in developing countries, focusing in particular on FDI and equity stocks.

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Bibliographic Reference

Lane, P and Milesi-Ferretti, G. 2000. 'External Capital Structure: Theory and Evidence'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2583