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What Lessons have been learnt since the East Asian Crisis in 1997/98? CIBS, Capital Flows, and Exchange Rates

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  • Pircher, Marion
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    Abstract

    This paper discusses the movement of capital flows to and from the exchange rate regimes and monetary policies of China, India, Brazil, and South Africa (CIBS). Furthermore, we compare the level of financial stability, and the composition and duration of capital flows of the countries on a policy level according to the ? ?third generation? crisis models?; following which the East Asian Crisis of 1997/98 linkages between the corporate and financial sectors, and foreign short-term debt are given further attention. The paper concludes by comparing all four countries and analysing possible risks in CIBS financial systems.

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    File URL: http://www.wider.unu.edu/stc/repec/pdfs/rp2008/rp2008-73.pdf
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    Bibliographic Info

    Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number RP2008/73.

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    Length: 32 pages
    Date of creation: 2008
    Date of revision:
    Handle: RePEc:unu:wpaper:rp2008-73

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    Keywords: international financial markets; financial stability; capital flows; exchange rates; China; India; Brazil; South Africa;

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    14. Bernanke, Ben S. & Gertler, Mark & Gilchrist, Simon, 1999. "The financial accelerator in a quantitative business cycle framework," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 21, pages 1341-1393 Elsevier.
    15. Isard,Peter, 2005. "Globalization and the International Financial System," Cambridge Books, Cambridge University Press, number 9780521843898.
    16. Isard,Peter, 2005. "Globalization and the International Financial System," Cambridge Books, Cambridge University Press, number 9780521605076.
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