01826cas a2200277 a 4500 AALejournalIMF001772 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859669 1018-5941 BD-DhAAL BD-DhAAL Brooks, Robin. Exchange Rates and Capital Flows / Robin Brooks, Torsten Sloek, Manmohan Kumar, Hali Edison. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper explores the ability of portfolio and foreign direct investment flows to track movements in the euro and the yen against the dollar. Net portfolio flows from the euro area into U.S. stocks-possibly reflecting differences in expected productivity growth-track movements in the euro against the dollar closely. Net FDI flows, which capture the recent burst in cross-border M and A activity, appear less important in tracking movements in the euro-dollar rate, possibly because many M and A transactions consist of share swaps. Movements in the yen versus the dollar remain more closely tied to such conventional variables as the current account and interest differential. Mode of access: Internet Edison, Hali. Kumar, Manmohan. Sloek, Torsten. IMF Working Papers; Working Paper ; No. 2001/190 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/190/001.2001.issue-190-en.xml IMF e-Library