Capital Flows and Crises

Stephen Grenfell

Asian-Pacific Economic Literature, 1999, vol. 13, issue 2, 1-15

Abstract: There are many things that went wrong for the countries caught up in the Asian crisis of 1997, but out of the myriad causes, two clear central problems can be identified—the fatal combination of large and volatile international capital flows, interacting with fragile domestic financial sectors. This paper focuses on the first of these issues— international capital flows.

Date: 1999
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