01970cas a2200253 a 4500 AALejournalIMF008988 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451863291 1018-5941 BD-DhAAL BD-DhAAL Lane, Philip. The External Wealth of Nations Mark II : Revised and Extended Estimates of Foreign Assets and Liabilities, 1970-2004 / Philip Lane, Gian Milesi-Ferretti. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (50 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 We construct estimates of external assets and liabilities for 145 countries for the period 1970-2004. We describe our estimation methods and present key features of the data at the country and the global level. We focus on trends in net and gross external positions, and the composition of international portfolios, distinguishing between foreign direct investment, portfolio equity investment, official reserves, and external debt. We document the increasing importance of equity financing and the improvement in the external position for emerging markets, and the differing pace of financial integration between advanced and developing economies. We also show the existence of a global discrepancy between estimated foreign assets and liabilities, and identify the asset categories that account for this discrepancy. Mode of access: Internet Milesi-Ferretti, Gian. IMF Working Papers; Working Paper ; No. 2006/069 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/069/001.2006.issue-069-en.xml IMF e-Library