STEFANO MANZOCCHI is Associate Professor of Economics, University of Perugia. He has been a Visiting Scholar, Research Department, International Monetary Fund, Washington, DC, 1996; a consultant for the European Union and for the Research Centre on the Italian and European Economy. He has published on capital flows and external finance in a range of major economic journals.

• Foreword; E.R.Grilli Acknowledgements List of Tables Introduction: A Growth-theory Approach to Capital Flows in Developing Countries Recovery, Insolvency and Stagnation: Foreign Capital to Developing Economies in Historical Perspective PART I: THEORETICAL MODELS Growth Theory and the Determinants of Capital Flows Growth Theory and the Effects of Capital Flows PART II: EMPIRICAL STUDIES Measuring Capital Mobility in Developing Economies Determinants of Net Capital Flows in Developing Countries Capital Movements, Economic Growth and Investment in Developing Countries External Finance and Foreign Debt in the Transition Economies of Central Eastern Europe Bibliography Index

STEFANO MANZOCCHI is Associate Professor of Economics, University of Perugia. He has been a Visiting Scholar, Research Department, International Monetary Fund, Washington, DC, 1996; a consultant for the European Union and for the Research Centre on the Italian and European Economy. He has published on capital flows and external finance in a range of major economic journals.

• Foreword; E.R.Grilli Acknowledgements List of Tables Introduction: A Growth-theory Approach to Capital Flows in Developing Countries Recovery, Insolvency and Stagnation: Foreign Capital to Developing Economies in Historical Perspective PART I: THEORETICAL MODELS Growth Theory and the Determinants of Capital Flows Growth Theory and the Effects of Capital Flows PART II: EMPIRICAL STUDIES Measuring Capital Mobility in Developing Economies Determinants of Net Capital Flows in Developing Countries Capital Movements, Economic Growth and Investment in Developing Countries External Finance and Foreign Debt in the Transition Economies of Central Eastern Europe Bibliography Index