Outflows-induced sudden stops
The term 'sudden stop' refers to a scenario in which an emerging market is suddenly cut off from international capital markets. Losing access to capital markets can be devastating, often resulting in a currency crisis and recession. However, some sudden stop episodes are driven not by global investors heading for the exits, but rather by locals increasing their international claims. The source of the problem determines the policy response. To better focus on sources rather than outcomes, sudden stops should be identified as a cessation of inflows (inflows-induced) or a sudden surge in outflows (outflows-induced).
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Volume (Year): 8 (2005)
Issue (Month): 2 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sebastian Edwards, 2004.
"Financial Openness, Sudden Stops, and Current-Account Reversals,"
American Economic Review,
American Economic Association, vol. 94(2), pages 59-64, May.
- Sebastian Edwards, 2004. "Financial Openness, Sudden Stops and Current Account Reversals," NBER Working Papers 10277, National Bureau of Economic Research, Inc.
- Eduardo A. Cavallo & Jeffrey Frankel, 2007.
"Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, or Less? Using Gravity to Establish Causality,"
Research Department Publications
4544, Inter-American Development Bank, Research Department.
- Cavallo, Eduardo A. & Frankel, Jeffrey A., 2008. "Does openness to trade make countries more vulnerable to sudden stops, or less? Using gravity to establish causality," Journal of International Money and Finance, Elsevier, vol. 27(8), pages 1430-1452, December.
- Jeffrey A. Frankel & Eduardo A. Cavallo, 2004. "Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, Or Less? Using Gravity to Establish Causality," NBER Working Papers 10957, National Bureau of Economic Research, Inc.
- Frankel, Jeffrey & Cavallo, Eduardo, 2004. "Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, or Less? Using Gravity to Establish Causality," Working Paper Series rwp04-038, Harvard University, John F. Kennedy School of Government.
- Sebastian Auguste & Kathryn M.E. Dominguez & Herman Kamil & Linda L. Tesar, 2002.
"Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis,"
NBER Working Papers
9343, National Bureau of Economic Research, Inc.
- Sebastian Auguste & Kathryn M.E. Dominguez & Herman Kamil & Linda L. Tesar, 2002. "Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis," William Davidson Institute Working Papers Series 513, William Davidson Institute at the University of Michigan.
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