Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-cjp7w Total loading time: 0 Render date: 2024-07-05T14:01:31.235Z Has data issue: false hasContentIssue false

Empirical Research on Financial Capital Flows

Published online by Cambridge University Press:  05 November 2011

Ralph C. Bryant
Affiliation:
Board of Governors of the Federal Reserve System
Get access

Summary

This paper is concerned with the growing body of literature reporting on empirical research on international capital flows. The term “financial” capital flows (or, alternatively, “portfolio” capital flows) is used to connote capital flows other than direct investments. Readers interested primarily in research on direct investments and the multinational corporation should consult Hufbauer's paper and its references; it precedes mine in this volume.

The scope of this paper is restricted in another way as well. There have been a number of articles in recent years, primarily theoretical in nature, dealing with what might be termed macro economic models of international trade and capital flows. Some of this literature is discussed in Helliwell's paper in this volume. I have not attempted to cover this ground except insofar as it has a direct bearing on empirical research per se.

As a glance at the list of references at the end of the paper will show, most of the literature on financial capital flows is of recent vintage. Little of it pre-dates the 1960s; the major part was published within the last five or six years. This fact underlines the relatively underdeveloped state of econometric research on the capital account in the balance of payments. Econometric studies of the impacts of real activity and prices on the current account in the balance of payments have a much longer and more sophisticated history – not to mention the great volume of empirical research carried out on domestic financial markets, domestic expenditures on real goods and services, and the linkages between them.

Type
Chapter
Information
International Trade and Finance
Frontiers for Research
, pp. 321 - 362
Publisher: Cambridge University Press
Print publication year: 1976

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×