Buba research links output volatility and capital flows
Researchers find correlation between output volatility and capital flows
Research published today by the Deutsche Bundesbank identifies a link between the volatility of output and procyclicality of capital flows in developing and emerging market economies.
The discussion paper, International capital flows, external assets and output volatility by Mathias Hoffmann, Michael Krause and Peter Tillmann, studies output data for 84 countries from 1980–2007. The researchers use the standard deviation of aggregate GDP as a proxy for income uncertainty, finding higher
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