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dc.contributor.author Broner, Fernando
dc.contributor.author Didier, Tatiana
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 2023-06
dc.identifier.uri http://hdl.handle.net/10230/48468
dc.description.abstract This paper presents novel stylized facts about the rise of the South in global finance using country-to-country data. To do so, the paper assembles comprehensive bilateral data on cross-border bank loans and deposits, portfolio investment, foreign direct investment, and international reserves from 2001 to 2018. The main findings are that investments involving the South, and especially within the South, have grown faster than those within the North. By 2018, South-to-South investments accounted for 8% of total international investments, while investments between the South and the North accounted for an additional 26%. The fastest growth occurred in portfolio investment and international reserves, whereas the slowest growth was in banking. These trends are not driven by China, any particular South region, or offshore financial centers. South-to-South investments grew the fastest even after controlling for regional GDP growth. The extensive margin played a significant role in the growth of investments within the South.
dc.format.mimetype application/pdf
dc.language eng
dc.language.iso eng
dc.title Bilateral international investments: the big Sur?
dc.type info:eu-repo/semantics/workingPaper
dc.subject.keyword emerging economies; foreign direct investment; international banking; international capital flows; international financial integration; portfolio investment
dc.subject.keyword Foreign direct investment
dc.subject.keyword International banking
dc.subject.keyword International capital flows
dc.subject.keyword International financial integration
dc.subject.keyword Portfolio investment
dc.rights.accessRights info:eu-repo/semantics/openAccess

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