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dc.contributor.author Broner, Fernando
dc.contributor.author Didier, Titiana
dc.contributor.author Schmukler, Sergio L.
dc.contributor.author Von Peter, Goetz
dc.date.accessioned 2021-09-16T10:36:37Z
dc.date.available 2021-09-16T10:36:37Z
dc.date.issued 2022-07
dc.identifier.uri http://hdl.handle.net/10230/48468
dc.description.abstract Using country-to-country data, this paper documents a set of novel stylized facts about the rise of the South in global finance. The paper assembles comprehensive bilateral data on cross-border bank loans and deposits, portfolio investment in debt and equity, foreign direct investment, and international reserves. The main findings are that investments involving the South, and especially within the South, have grown faster than those within the North between 2001 and 2018. By 2018, the South was involved in 34% of total international investments. The largest increases occurred in portfolio investment and international reserves, the smallest in banking. These trends are observed across South regions, are not driven by China, and are reinforced when taking offshore finance into account. South-to-South investments tended to grow the fastest, even after controlling for regional GDP growth. The extensive margin increased significantly within the South, accounting for a sizable share of international investments by 2018.
dc.format.mimetype application/pdf
dc.language eng
dc.language.iso eng
dc.subject.other International capital flows
dc.subject.other Emerging economies
dc.subject.other International financial integration
dc.subject.other Foreign direct investment
dc.subject.other Portfolio investment
dc.title Bilateral international investments: the big Sur?
dc.type info:eu-repo/semantics/workingPaper
dc.rights.accessRights info:eu-repo/semantics/openAccess

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