From Capital Flow Bonanza to Financial Crash
AbstractThe standard pattern: capital flows into the new “hot” nation, but then stop or reverses forcing painful adjustment. This column presents research based on such episodes from 181 nations during 1980-2007 and for a subset of 66 nations for the 1960-2007 period. If the pattern of the past few decades holds true, emerging market economies may be facing a darkening future.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 11866.
Date of creation: Aug 2008
Date of revision:
international capital flows; crses procyclical polices;
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- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
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- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," NBER Working Papers 13882, National Bureau of Economic Research, Inc.
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- Reinhart, Carmen & Reinhart, Vincent, 2008. "Is the US too big to fail?," MPRA Paper 12976, University Library of Munich, Germany.
- Andrew K. Rose & Mark M. Spiegel, 2009.
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- Andrew K. Rose & Mark M. Spiegel, . "Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning," Working Papers 6, Department of the Treasury, Ministry of the Economy and of Finance.
- Rose, Andrew K & Spiegel, Mark, 2009. "Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning," CEPR Discussion Papers 7354, C.E.P.R. Discussion Papers.
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