1. Units are: capital flows (for standard deviation) as percentage of GDP, per capita GDP in thousands of dollars, financial development as percentage of GDP (both private credit and liquid liabilities), institutional quality is an index (in 1990 it ranges from -3.26 for Zaire (not in our sample) or -2.06 for Nigeria;The dependent variable is the standard deviation of capital flows between 1990 and 2003
2. Why Do Emerging Economies Borrow Short Term?
3. Excessive Dollar Debt: Financial Development and Underinsurance;R Caballero;Journal of Finance,2003