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The impact of sudden stops in capital flows on output and investment: Selected emerging markets

Turkish Economic Review

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Title The impact of sudden stops in capital flows on output and investment: Selected emerging markets
 
Creator EMARA, Noha;

Economics Department Helwan University, Egypt Rutgers University, U.S.A.

Address: 313 North Fifth Street, Camden, NJ, 08102

Website: http://economics.camden.rutgers.edu/emara.html, Email: noha.emara@rutgers.edu

Phone: (c) (201) 920 4510, (o) (856) 225-6096 


NI, Congcong; School of International and Public Affairs, Columbia University
GAO, Ya; 3School of International and Public Affairs, Columbia University
 
Subject Sudden stops; Economic growth; Capital flows; Emerging markets; GMM.
E40; F32; F36; G15.
 
Description Abstract. We evaluate how vulnerable the emerging markets are to sudden stops, that is, capital inflow reversals, using panel data for 12 emerging economies for the period 1976-2002 that experienced such reversals. We investigate the impact of sudden stops on the macroeconomic indicators of economic growth and investment by employing the Generalized Method of Moments (GMM) estimation methodology. A robustness check is performed using regional groups and introducing additional control variables. We find that sudden stops have lagging, negative, and robust effect on output and investment, while the effect on investment is not always robusth.Keywords. Sudden stops, Economic growth, Capital flows, Emerging markets, GMM.JEL. E40, F32, F36, G15.
 
Publisher Turkish Economic Review
Turkish Economic Review
 
Contributor —
 
Date 2018-12-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/TER/article/view/1781
10.1453/ter.v5i4.1781
 
Source Turkish Economic Review; Vol 5, No 4 (2018): December; 328-337
Turkish Economic Review; Vol 5, No 4 (2018): December; 328-337
2149-0414
 
Language eng
 
Relation http://www.kspjournals.org/index.php/TER/article/view/1781/1793
 
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http://creativecommons.org/licenses/by-nc/4.0