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June 2016
Sanket Mohapatra

Sanket Mohapatra is a faculty in Economics area.  His areas of research interest include International finance, international macroeconomics, global capital flows, sovereign and sub-sovereign credit ratings, corporate financing patterns in emerging economies, poverty, inequality and economic growth, international migration and remittances.
Abstracts of other articles published in refereed journals included in this issue
  • Quantitative Easing and the Post-Crisis Surge in Financial Flows to Developing Countries
    In Journal of International Money and Finance, February 19, 2016 (Online Reference: DOI:10.1016/j.jimonfin.2016.02.009)

    Jamus Jerome Lim and Sanket Mohapatra

    This paper examines gross financial inflows to developing countries between 2000 and 2013, with a focus on the potential effects of quantitative easing (QE) policies in the United States and other high-income countries. We find evidence for potential transmission of QE along observable liquidity, portfolio balancing, and confidence channels. Moreover, we find that QE had an additional latent effect over and above theseobservable channels, one that survives an array of robustness tests, retains its significance across different types of financial flows, and which cannot be attributed to changes in expectations or elasticity. Our baseline estimates place the lower bound of a QE effect at around 5 percent of gross inflows above trend, for the average developing economy, which is a magnitude comparable to a one standard deviation change along the traditional channels. We also find evidence of heterogeneity among different types of flows; portfolio (especially bond) flows tend to be more sensitive than FDI to our measured QE effects.

Abstracts of other articles published in refereed journals included in this issue

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