Financial crisis and national policy issues: an overview

Ricardo Ffrench-Davis

Series Históricas from Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL)

Abstract: Abstract In this overview we analyse, first, why funds continued to flow towards emerging economies, while fundamentals in host countries had been deteriorating before the Asian crisis (a rising external deficit, with a significant liquid component; appreciating exchange rates; low capital formation, particularly in Latin America), and why funding remains dry for long since 1998; the role of the nature of the predominant agents and of a process of flows rather than one-shot building of stock of foreign capital are stressed. Then, the analysis focuses on the interrelations of capital flows and fiscal, monetary,exchange rate and bank regulation policies, building on the papers prepared by participants in this project and related recent references. Finally, some policy implications are presented for boom and bust stages of inflows-led cycles.

Date: 2003-03
Note: Includes bibliography
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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http://repositorio.cepal.org/handle/11362/7799

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Book: Financial crisis and national policy issues: an overview (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:ecr:col048:7799

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