Rethinking Capital Flows for Emerging East Asia
AbstractSince the 1980s, emerging countries have been urged to welcome foreign capital inflows. The result has often been a pattern of surges, where excessive inflows were followed by damaging “sudden stops” and reversals. What is needed is a strategy that makes use of the potential benefits of capital “flowing downhill” (that would require these countries to run current account deficits) while at the same time protecting them from both the excessive inflows and the reversals.
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 362.
Length: 31 pages
Date of creation: 25 Jun 2012
Date of revision:
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More information through EDIRC
asian financial crisis; east asia; financial markets; capital flows; current account;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-07-08 (All new papers)
- NEP-OPM-2012-07-08 (Open Economy Macroeconomics)
- NEP-SEA-2012-07-08 (South East Asia)
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