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Capital Flows and Crises
Author(s) -
Grenfell Stephen
Publication year - 1999
Publication title -
asian‐pacific economic literature
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.232
H-Index - 21
eISSN - 1467-8411
pISSN - 0818-9935
DOI - 10.1111/1467-8411.00059
Subject(s) - capital flows , capital (architecture) , financial crisis , economics , international economics , capital flight , financial capital , business , development economics , international trade , financial system , market economy , macroeconomics , geography , liberalization , incentive , human capital , archaeology
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.