Hoeffler, Anke
Description
This paper sets flight capital in the context of portfolio choice, focusing upon the proportion of private wealth that is held abroad. There are large
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regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. We explain cross-country differences in portfolio choice by variables that proxy differences in the risk-adjusted rate of return on capital. We apply the results to four policy questions: how the East Asian crisis affected domestic capital outflows; herd effects; the effect of the IMF-World Bank debt relief initiative for heavily-indebted poor countries (HIPC) on capital repatriation; and why so much of Africa's private wealth is held outside the continent.
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Genres
No genres specified
Tags
Debt
Interest
Burkina Faso
Capital Flight
Domestic Investment
Foreign Debt
Portfolio Choice
Guyana
Reading Moods
Humorous & Light
Adventurous & Action-Packed
Contributors
No contributors specified
Publishing Info
Publisher
International Monetary Fund
Month-Year
Dec, 1999
ISBN
ISBN-13: 9781451858488
ISBN-10: 1451858485
Language
English
No. of Pages
33
Format
E-book
Awards & Recognition
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Available at
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