TY - BOOK ID - 84542622 TI - Patterns of Capital Flows to Emerging Markets : A Theoretical Perspective AU - Chen, Zhaohui. AU - Khan, Mohsin. PY - 1997 SN - 1462360181 1452703892 1283561247 9786613873699 1451891059 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Finance: General KW - International Investment KW - Long-term Capital Movements KW - International Financial Markets KW - Financing Policy KW - Financial Risk and Risk Management KW - Capital and Ownership Structure KW - Value of Firms KW - Goodwill KW - General Financial Markets: General (includes Measurement and Data) KW - Current Account Adjustment KW - Short-term Capital Movements KW - International economics KW - Finance KW - Capital flows KW - Foreign direct investment KW - Emerging and frontier financial markets KW - Capital inflows KW - Portfolio investment KW - Balance of payments KW - Financial markets KW - Capital movements KW - Investments, Foreign KW - Financial services industry KW - Portfolio management KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542622 AB - This paper reviews some of the basic patterns of international capital flows to emerging markets in recent years, including the composition of capital flows, intraregional flow patterns, and the geographical distribution of the flows. A theoretical model that sheds new light on these observed patterns is developed. This model focuses on the cost of financing aspect of capital flows, and shows that the patterns of capital flows are influenced by the combined effects of financial market development and growth potential in the recipient countries. The theoretical predictions of the model are shown to be consistent with the stylized facts. ER -