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From Capital Flow Bonanza to Financial Crash
Carmen M. Reinhart ()
Vincent Raymond Reinhart MPRA Paper from University Library of Munich, Germany
The standard pattern: capital flows into the new “hot” nation, but then stop or reverses forcing painful adjustment. This column presents research based on such episodes from 181 nations during 1980-2007 and for a subset of 66 nations for the 1960-2007 period. If the pattern of the past few decades holds true, emerging market economies may be facing a darkening future.
Keywords: international capital flows; crses procyclical polices (search for similar items in EconPapers)
JEL-codes: N1 (search for similar items in EconPapers)
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