Long-Term Capital Movements



41


• CUMCA


Figure 3. Net Foreign Assets, Developing Countries



O CUMFL

« CUMCA

OCUMFL



• CUMCA                        ∙ IIP

O CUMFL


« CUMCA                        ∙ IIP                                     « CUMCA                        . IIP

OCUMFL                                                OCUMFL


International investment position (IPNFA)

Cumulative current account (CUMCA)
-θ—θ- Cumulative capital flows (CUMFL)



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