Portfolio investment, often called 'hot money' because of its volatile nature, can increase the economy's vulnerability to the vagaries of international finance. Foreign direct investment, on the other hand, is far more stable and driven by domestic fundamentals.
Copy Quote View & ShareWhen I was doing my bachelors from Delhi University, India experienced its first major external financing and currency crisis in 1990-91. This inspired me to pursue graduate work in economics and was the foundation for my interest in international finance.
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