Hidden Bibliographic Details
| Other authors / contributors: | Hoeffler, Anke.
Pattillo, Catherine A. (Catherine Anne)
International Monetary Fund. Research Department.
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| ISBN: | 1282035347
9781282035348
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| Notes: | Includes bibliographical references (page 32).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation 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 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 Africas private wealth is held outside the continent.
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| Other form: | Print version: Collier, Paul. Flight capital as a portfolio choice. [Washington, D.C.] : International Monetary Fund, Research Department, ©1999
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