Country portfolios

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dc.contributor	Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.contributor.author	Kraay, Aart
dc.contributor.author	Loayza, Norman
dc.contributor.author	Servén, Luis
dc.contributor.author	Ventura, Jaume
dc.date	2000-10-01
dc.identifier.citation	https://econ-papers.upf.edu/ca/paper.php?id=913
dc.identifier.citation	Journal of the European Economic Association, 3 (4), 914-945, 2005
dc.identifier.uri	http://hdl.handle.net/10230/312
dc.format	application/pdf
dc.language.iso	eng
dc.relation	Economics and Business Working Papers Series; 913
dc.rights	L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject	internationall capital flows
dc.subject	country portfolios
dc.subject	sovereign risk
dc.subject	Macroeconomics and International Economics
dc.title	Country portfolios
dc.type	info:eu-repo/semantics/workingPaper
dc.description.abstract	Capital flows to developing countries are small and are mostly take the form of loans rather than direct foreign investment. We build a simple model of North-South capital flows that highlights the interplay between diminishing returns, production risk and sovereign risk. This model generates a set of country portfolios and a world distribution of capital stocks that resemble those in the data.