Προσδιοριστικοί παράγοντες των ροών διεθνών επενδυτικών κεφαλαίων - O ρόλος της ποιότητας των θεσμών
In this paper we seek to estimate the variables that affect the flows of international capital in the form of equity and bond issues separately as well as collectively. We use data from twenty-seven emerging economies and the time span is twenty-nine years between 1990 and 2018 to include the period before, during and after the financial crisis. In the present thesis an empirical investigation of the nature and determinants of international capital flows is carried out using updated variables that represent push and pull factors. Due to the use of time fixed effects, the importance of international factors is eliminated. In this thesis, we also investigate the importance and the way in which domestic determinants influence the flows of international capital. Our empirical results show that financial development of the host economy as well as sound governance and absence of uncertainty significantly enhance foreign capital flows.