TY - BOOK ID - 135825978 TI - Bilateral International Investments : The Big Sur? AU - Broner, Fernando. AU - Didier, Tatiana. AU - Schmukler, Sergio L. AU - von Peter, Goetz. PY - 2020 PB - Washington, D.C. : The World Bank, DB - UniCat KW - Capital Flows KW - Capital Markets and Capital Flows KW - Emerging Market Economies KW - Finance and Financial Sector Development KW - Foreign Direct Investment KW - International Capital Flows KW - International Economics and Trade KW - International Financial Integration KW - Investment and Investment Climate KW - Investment Climate KW - Macroeconomics and Economic Growth KW - Portfolio Investments UR - https://www.unicat.be/uniCat?func=search&query=sysid:135825978 AB - Using country-to-country data, this paper documents a set of novel stylized facts about the rise of the South in global finance. The paper assembles comprehensive bilateral data on cross-border bank loans and deposits, portfolio investment in debt and equity, foreign direct investment, and international reserves. The main finding is that global financial integration with and especially within the South (countries outside the G7 and Western Europe) has grown faster than within the North. By 2018, the South accounted for 24 to 40 percent of international loans and deposits, portfolio investment, and foreign direct investment, an increase of roughly 10 percentage points since 2001. The growing importance of the South is reflected in the intensive and extensive margins, with fast growth in the number of bilateral links. Although China weighs heavily in these trends, international investment in the rest of the South has increased to a similar extent. ER -