Institutions and the External Capital Structure of Countries

Institutions and the External Capital Structure of Countries
A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries' external capital structures? In a cross section of emerging markets and developing countries, we find that equity-like liabilities (FDI... READ MORE...

Publication date: December 2004
ISBN 9781451875713
$15.00

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