International Reserves and Gross Capital Flows - Dynamics During Financial Stress
نویسندگان
چکیده
منابع مشابه
Capital Flows and the International Financial System
It has become easier, with the passage of time, to forget what an extraordinary event the Asian financial crisis was. Before the crisis, the countries of east Asia had grown faster, for longer, than any other countries in recorded history. They had transformed their economies and the standard of living of their people in the course of a single generation. In 1960, some of the east Asian countri...
متن کاملFinancial Development and International Capital Flows
We develop a general equilibrium model with financial frictions in which equity and credit have different rates of return. Financial development raises the loan rate but has a non-monotonic effect on the equity return. We then show in a two-country model that capital account liberalization leads to outflow of financial capital from the country with less developed financial system. However, the ...
متن کاملFinancial Development and the Patterns of International Capital Flows ∗
We develop a tractable two-country overlapping generations model and show analytically that the cross-country differences in financial development help explain three recent empirical facts characterizing international capital flows: financial capital flows from relatively poor to relatively rich countries while FDI flows in the opposite direction; net capital flows are from poor to rich countri...
متن کاملInternational Capital Flows and Development: Financial Openness Matters
Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and mo...
متن کاملIntroduction to Capital Flows and the International Financial System
It has become easier, with the passage of time, to forget what an extraordinary event the Asian financial crisis was. Before the crisis, the countries of east Asia had grown faster, for longer, than any other countries in recorded history. They had transformed their economies and the standard of living of their people in the course of a single generation. In 1960, some of the east Asian countri...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2009275