THE DETERMINANTS OF PRIVATE CAPITAL FLOWS IN EMERGING ECONOMIES: THE ROLE OF THE FED'S UNCONVENTIONAL MONETARY POLICY

被引：2
|
作者：
Gamboa-Estrada, Fredy [1 ]
机构：
[1] Banco Republ, Monetary & Int Investment Div, Carrera 7 14-78, Bogota, Colombia
来源：
CONTEMPORARY ECONOMIC POLICY | 2020年 / 38卷 / 04期
关键词：
MODELS;
D O I：
10.1111/coep.12474
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Previous studies on the effect of the Fed's Unconventional Monetary Policy on capital flows in Emerging Economies have not been conclusive. I analyze if the effect of these policies on capital flows is heterogeneous between countries. This approach could be the smoking gun in this debate as I attempt to find evidence of a specific mechanism by which Unconventional Monetary Policy could affect the pattern of capital flows in Emerging Economies. The results suggest that Unconventional Monetary Policy has a significant effect on capital flows which depends on the type of measure adopted and the degree of financial exposure of each country to the United States. (JEL C23, E52, E58, F21, F32)
引用
收藏
页码：694 / 710
页数：17
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