Capital flows and the emerging economies : theory, evidence, and controversies / edited by Sebastian Edwards.

Format:

Book

Contributor:

Edwards, Sebastian, 1953-

Series:

National Bureau of Economic Research conference report.

Conference report (National Bureau of Economic Research)

National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Capital movements--Developing countries--Congresses.

Capital movements.

Physical Description:

1 online resource (366 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, c2000.

Language Note:

English

Summary:

The 1990's witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes-in Mexico, Thailand, South Korea, Russia, and Brazil-were all exacerbated by speculative foreign investments and high-volume movements of capital in and out of those countries. Insufficient domestic controls and a sluggish international response further undermined these economies, as well as the credibility of external oversight agencies like the International Monetary Fund. This timely volume examines the correlation between volatile capital mobility, currency instability, and the threat of regional contagion, focusing particular attention on the emergent economies of Latin America, Southeast Asia, and Eastern Europe. Together these studies offer a new understanding of the empirical relationship between capital flows, international trade, and economic performance, and also afford key insights into realms of major policy concern.

Contents:

Front matter

Contents

Acknowledgments

Introduction

1. Contagion, Globalization, and the Volatility of Capital Flows

2. Fire-Sale FDI

3. Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility

4. What Explains Changing Spreads on Emerging Market Debt?

5. Is There a Curse of Location? Spatial Determinants of Capital Flows to Emerging Markets

6. Capital Flows and the Behavior of Emerging Market Equity Returns

7. Capital Flows, Real Exchange Rates, and Capital Controls: Some Latin American Experiences

8. Capital Flows in Asia

9. Capital Flows to Central and Eastern Europe and the Former Soviet Union

Contributors

Author Index

Subject Index

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

ISBN:

9786611430856

9781281430854

1281430854

9780226184722

0226184722

OCLC:

437247566