Nber Working Paper Series Gross Capital Inflows To
NBER WORKING PAPER SERIES GROSS CAPITAL INFLOWS TO BANKS, CORPORATES AND SOVEREIGNS Stefan Avdjiev Bryan Hardy Sebnem Kalemli-Ozcan Luis Servén Working Paper 23116 http://www.nber.org/papers/w23116 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 January 2017 We thank Luis Catão, Eugenio Cerutti, Stijn Claessens, Branimir Gruic, Gian Maria Milesi- Ferretti, and Philip Wooldridge for useful comments and suggestions and Bet-el Berger for excellent assistance with the BIS IBS data. All errors are our own. This work was partly funded by the World Bank’s Knowledge for Change Program. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research, the Bank for International Settlements, or the World Bank. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2017 by Stefan Avdjiev, Bryan Hardy, Sebnem Kalemli-Ozcan, and Luis Servén. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Gross Capital Inflows to Banks, Corporates and Sovereigns Stefan Avdjiev, Bryan Hardy, Sebnem Kalemli-Ozcan, and Luis Servén NBER Working Paper No. 23116 January 2017 JEL No. F00,F2,F21,F3,F32,F41,F42 ABSTRACT We construct a new data set for gross capital inflows during 1996–2014 for 85 countries at a quarterly frequency. We decompose debt inflows by borrower type: banks, corporates and sovereigns.
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