On the determinants of external imbalances and net international portfolio flows: a global perspective

Roberto A. De Santis
Melanie Lührmann

Published on 1 July 2006

This paper shows that net portfolio flows play an important role in correcting external imbalances.

<p>This paper shows that net portfolio flows play an important role in correcting external imbalances, since they are driven by common determinants represented by countries' demographic profiles, the quality of institutions, monetary aggregates and initial net financial asset positions.</p>

Authors

Melanie Luhrmann

Melanie Lührmann

Research Fellow Royal Holloway, University of London

Melanie joined the Institute for Fiscal Studies in 2006 as a Research Fellow and she is a Professor at Royal Holloway, University of London.

Person graphic

Roberto A. De Santis