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Boom and bust in capital flows to developing countries : what South Asia can learn from recent financial crises

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dc.creator Nunnenkamp, Peter
dc.date 1998
dc.date.accessioned 2013-10-16T06:01:52Z
dc.date.available 2013-10-16T06:01:52Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/1005
dc.identifier ppn:243472978
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/1005
dc.description Politicians in Asia and some economists contend that developing countries are at the mercy of the rapidly changing winds blowing from international capital markets. We are indeed witnessing another episode of volatility in capital flows, with foreign investors suddenly fleeing emerging markets in Asia. However, speculative attacks are a symptom, rather than the cause of financial turbulences and currency crises in developing countries. In the era of globalization, policy consistency and government credibility have become still more important for sustaining external financing. South Asia would be ill - advised to forgo the benefits of capital inflows in order to avoid the risk of subsequent outflows. Rather, South Asian governments should not repeat the economic policy failures that are underlying the recent crises in Latin America and East Asia.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kiel Working Papers 853
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F20
dc.subject F43
dc.subject ddc:330
dc.subject Internationale Kapitalmobilität
dc.subject Direktinvestition
dc.subject Entwicklungskonvergenz
dc.subject Wirtschaftspolitik
dc.subject Währungspolitik
dc.subject Glaubwürdigkeit
dc.subject Institutionalismus
dc.subject Entwicklungsländer
dc.subject Südasien
dc.title Boom and bust in capital flows to developing countries : what South Asia can learn from recent financial crises
dc.type doc-type:workingPaper

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