Arbeitspapier
The value of waiting: Russia's integration into the international capital markets
Capital flight has characterized the transformation process in Russia. Inflows of foreign direct investment have been minor and have been preceeded by inflows of portfolio capital. The paper shows that uncertainty about macroeconomic stabilization exhibits a strong negative effect on the volume of capital inflows when investment decisions are irreversible. Reducing uncertainty may but must not necessarily lead to more investment. The fact that monetary stabilization policies have not been accompanied by comprehensive institutional reforms can explain the pattern of Russia's capital flows in general and the dismal performance in attracting foreign direct investment in particular.
- Sprache
-
Englisch
- Erschienen in
-
Year: 1998 ; Kiel: Institut für Weltwirtschaft (IfW)
- Klassifikation
-
Wirtschaft
Central Banks and Their Policies
International Investment; Long-term Capital Movements
International Monetary Arrangements and Institutions
Open Economy Macroeconomics
- Thema
-
Direktinvestition
Portfolio-Investition
Optionspreistheorie
Inflationsbekämpfung
Wirtschaftspolitik
Systemtransformation
Standortfaktor
Russland
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Buch, Claudia M.
Heinrich, Ralph P.
Pierdzioch, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute of World Economics (IfW)
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Kiel
- (wann)
-
1998
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Buch, Claudia M.
- Heinrich, Ralph P.
- Pierdzioch, Christian
- Kiel Institute of World Economics (IfW)
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Entstanden
- 1998
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