English, Article edition: FOREIGN INVESTMENT AND PERCEPTIONS OF VULNERABILITY TO FOREIGN EXCHANGE CRISES: EVIDENCE FROM TRANSITION ECONOMIES Vladimír Tom¹ík; Josef C. Brada; Vladimír Tomšík

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Bookmark: http://trove.nla.gov.au/version/198084
Physical Description
  • article
Language
  • English

Edition details

Title
  • FOREIGN INVESTMENT AND PERCEPTIONS OF VULNERABILITY TO FOREIGN EXCHANGE CRISES: EVIDENCE FROM TRANSITION ECONOMIES
Author
  • Vladimír Tom¹ík
  • Josef C. Brada
  • Vladimír Tomšík
Physical Description
  • article
Notes
  • financial crisis, foreign direct investment, balance of payments, transition economies
  • The article discusses different causes of financial crises and shows that the imputation of reinvested profits of the subsidiaries of foreign firms as a debit item on a host country's balance of payments account tends to overstate the current account deficit and to make the host country seem more vulnerable to financial crisis. It also shows that, because of the workings of the foreign direct investment financial life cycle, this phenomenon is most evident for countries that have recently received large inflows of capital. The transition economies of East Europe certainly fall among such countries. Authors verify the working of the foreign direct investment financial life cycle using a panel of transition economies.
  • transition economies, foreign direct investment, financial crisis, balance of payments
  • RePEc:prg:jnlpol:v:2004:y:2004:i:3:id:462:p:313-329
Language
  • English
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