Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/52851
Authors: 
Ffrench-Davis, Ricardo
Year of Publication: 
2002
Series/Report no.: 
WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2002/81
Abstract: 
In this overview we try to explain, first, why funds continued to flow towards emerging economies while fundamentals in host countries had been deteriorating before the Asian crisis (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 booms and bust stages of inflows-led cycles.
Subjects: 
financial crises
countercyclical macroeconomics
exchange rate
fiscal policy
economic growth
JEL: 
E6
F21
F32
F41
F43
ISBN: 
929190287X
Document Type: 
Working Paper

Files in This Item:
File
Size
150.41 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.