Late to the Game? Capital Flows to the Western Balkans
The boom and bust in capital flows to the New Member States (NMS) has received considerable attention, relatively little has, however, been written about capital flows to the Western Balkans, often perceived to be ‘late arrivals’ to large capital flows. We find that while financial integration took...
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| Format: | Article |
| Language: | English |
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The Institute of Economics, Zagreb
2018-01-01
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| Series: | Croatian Economic Survey |
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| Online Access: | http://hrcak.srce.hr/file/315294 |
| Summary: | The boom and bust in capital flows to the New Member States (NMS) has received considerable attention, relatively little has, however, been written about capital flows to the Western Balkans, often perceived to be ‘late arrivals’ to large capital flows. We find that while financial integration took off later in the Western Balkans, it has increased rapidly, despite lower capital account openness. Capital inflows are (perhaps surprisingly) diverse in terms of source countries, but broadly similar in terms of drivers and composition, though with equity shares higher than they were in the NMS at comparable levels of development. |
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| ISSN: | 1330-4860 1846-3878 |