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International Capital Flows and Domestic Financial Conditions: Lessons for Emerging Asia

Listed author(s):
  • Philip Lane

    ()

    (Trinity College Dublin)

This paper provides an empirical review of the dynamics of international capital áows, with a focus on emerging Asia. Next, it outlines the various channels by which international capital flows affect domestic financial conditions in the host economies. Finally, it explores the implications for the design of policy frameworks that can deliver macro-financial stability.

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File URL: http://www.tcd.ie/iiis/documents/discussion/pdfs/iiisdp438.pdf
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Paper provided by IIIS in its series The Institute for International Integration Studies Discussion Paper Series with number iiisdp438.

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Length: 40 pages
Date of creation: Dec 2013
Handle: RePEc:iis:dispap:iiisdp438
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References listed on IDEAS
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  1. Jeremy C. Stein, 2012. "Monetary Policy as Financial Stability Regulation," The Quarterly Journal of Economics, Oxford University Press, vol. 127(1), pages 57-95.
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  11. Honohan, Patrick & Lane, Philip R, 1999. "Pegging to the Dollar and the Euro," International Finance, Wiley Blackwell, vol. 2(3), pages 379-410, November.
  12. Matthieu Bussière & Claude Lopez & Cédric Tille, 2015. "Do real exchange rate appreciations matter for growth?," Economic Policy, CEPR;CES;MSH, vol. 30(81), pages 5-45.
  13. Dong He & Frank Leung & Philip Ng, 2009. "A Framework for Monitoring Capital Flows in Hong Kong," Working Papers 0916, Hong Kong Monetary Authority.
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  19. Calderon, Cesar & Kubota, Megumi, 2012. "Gross inflows gone wild : gross capital inflows, credit booms and crises," Policy Research Working Paper Series 6270, The World Bank.
  20. Philip R. Lane & Barbara Pels, 2012. "Current Account Imbalances in Europe," The Institute for International Integration Studies Discussion Paper Series iiisdp397, IIIS.
  21. Martin Schmitz, 2011. "Financial reforms and capital flows to emerging Europe," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 38(4), pages 579-605, November.
  22. repec:hal:wpaper:halshs-00967419 is not listed on IDEAS
  23. Bussirère, Matthieu & Lopez, Claude & Tille, Cédric, 2013. "Currency Crises in Reverse: Do Large Real Exchange Rate Appreciations Matter for Growth?," MPRA Paper 44053, University Library of Munich, Germany.
  24. Yeyati, Eduardo Levy & Williams, Tomas, 2011. "Financial globalization in emerging economies : much ado about nothing ?," Policy Research Working Paper Series 5624, The World Bank.
  25. Park, Cyn-Young, 2013. "Asian Capital Market Integration: Theory and Evidence," ADB Economics Working Paper Series 351, Asian Development Bank.
  26. Plantin, Guillaume & Shin, Hyun Song, 2011. "Carry Trades, Monetary Policy and Speculative Dynamics," CEPR Discussion Papers 8224, C.E.P.R. Discussion Papers.
  27. Jay C. Shambaugh & Michael W. Klein, 2015. "Rounding the Corners of the Policy Trilemma: Sources of monetary policy autonomy," Working Papers 2015-4, The George Washington University, Institute for International Economic Policy.
  28. Kristin J. Forbes & Francis E. Warnock, 2012. "Debt- and Equity-Led Capital Flow Episodes," NBER Working Papers 18329, National Bureau of Economic Research, Inc.
  29. Sally F. (Sally Fangnan) Chen & Philip Liu & Andrea M. Maechler & Chris Marsh & Sergejs Saksonovs & Hyun S Shin, 2012. "Exploring the Dynamics of Global Liquidity," IMF Working Papers 12/246, International Monetary Fund.
  30. Claudio Borio, 2012. "The financial cycle and macroeconomics: What have we learnt?," BIS Working Papers 395, Bank for International Settlements.
  31. Javier Bianchi & Emine Boz & Enrique G. Mendoza, 2012. "Macro-prudential Policy in a Fisherian Model of Financial Innovation," IMF Working Papers 12/181, International Monetary Fund.
  32. Prasad, Eswar & Rajan, Raghuram G., 2008. "A Pragmatic Approach to Capital Account Liberalization," IZA Discussion Papers 3475, Institute for the Study of Labor (IZA).
  33. Michael B. Devereux & Philip R. Lane, 2000. "Exchange Rates and Monetary Policy in Emerging Market Economies," Working Papers 072000, Hong Kong Institute for Monetary Research.
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  39. Kristin Forbes, 2012. "The "Big C": Identifying Contagion," NBER Working Papers 18465, National Bureau of Economic Research, Inc.
  40. Jonathan David Ostry & Atish R. Ghosh & Karl F Habermeier & Marcos d Chamon & Mahvash S Qureshi & Dennis B. S. Reinhardt, 2010. "Capital Inflows; The Role of Controls," IMF Staff Position Notes 2010/04, International Monetary Fund.
  41. Romain Rancière & Aaron Tornall & Athanasio Vamvakidis, 2010. "Currency mismatch, systemic risk and growth in emerging Europe," Post-Print halshs-00754418, HAL.
  42. Anat Admati & Martin Hellwig, 2013. "The Bankers' New Clothes: What's Wrong with Banking and What to Do about It," Economics Books, Princeton University Press, edition 1, number 9929.
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