Capital Flow Reversals,the Exchange Rate Debate,and Dollarization

Carmen Reinhart () and Guillermo Calvo

MPRA Paper from University Library of Munich, Germany

Abstract: More frequent and increasingly severe crises are encouraging emerging market economies to seek means to make themselves less vulnerable to sudden stops in capital flows. Capital controls have been widely discussed, but dollarization may offer a longer-term and more market-friendly solution.

Keywords: capital flows; crises; exchange rates (search for similar items in EconPapers)
JEL-codes: F4 F32 F30 (search for similar items in EconPapers)
Date: Written 1999-09
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Published in Finance and Development 3.36(1999): pp. 13-15

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