Sovereigns, Upstrems Capital Flows, and Global Imbalances
Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
,
5
(
12
)
Journal of European Economic Association
1240-1284
October
2014
puzzles_final.PDF565.28 KB
Abstract
We construct measures of net private and public capital ows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign transactions account for upstream capital ows and global imbalances.
