The Recent Experience with Capital Flows to Emerging Market Economies:
This paper summarises key points of the recent extensive discussion of the factors behind the volatility of cross-border capital flows in emerging market countries and possible corrective measures. The root cause of the recent volatility of capital flows seems to have been excessive credit and curre...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
1999
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| Schriftenreihe: | OECD Economics Department Working Papers
no.211 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper summarises key points of the recent extensive discussion of the factors behind the volatility of cross-border capital flows in emerging market countries and possible corrective measures. The root cause of the recent volatility of capital flows seems to have been excessive credit and currency risk-taking by banks, which in turn was related to moral hazard problems, failure of prudential regulations and bank supervision, and weak effective standards of financial disclosure. Macroeconomic factors also played a role, with a widening deficit on the balance of payments and fixed (or predictable) exchange rates gradually undermining confidence of creditors and investors. Liquidity problems may have amplified the reaction to adverse news, and herd behaviour and contagion may also have exaggerated reaction to changing fundamentals and transmitted crises from one country to another. Capital controls, which have been extensively used in emerging market countries, may not be very ... |
| Beschreibung: | 1 Online-Ressource (30 p.) 21 x 29.7cm. |
| DOI: | 10.1787/387426718682 |
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| spelling | Blöndal, Sveinbjörn VerfasserIn aut The Recent Experience with Capital Flows to Emerging Market Economies Sveinbjörn, Blöndal and Hans, Christiansen Paris OECD Publishing 1999 1 Online-Ressource (30 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.211 This paper summarises key points of the recent extensive discussion of the factors behind the volatility of cross-border capital flows in emerging market countries and possible corrective measures. The root cause of the recent volatility of capital flows seems to have been excessive credit and currency risk-taking by banks, which in turn was related to moral hazard problems, failure of prudential regulations and bank supervision, and weak effective standards of financial disclosure. Macroeconomic factors also played a role, with a widening deficit on the balance of payments and fixed (or predictable) exchange rates gradually undermining confidence of creditors and investors. Liquidity problems may have amplified the reaction to adverse news, and herd behaviour and contagion may also have exaggerated reaction to changing fundamentals and transmitted crises from one country to another. Capital controls, which have been extensively used in emerging market countries, may not be very ... Economics Christiansen, Hans MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/387426718682 Volltext |
| spellingShingle | Blöndal, Sveinbjörn The Recent Experience with Capital Flows to Emerging Market Economies Economics |
| title | The Recent Experience with Capital Flows to Emerging Market Economies |
| title_auth | The Recent Experience with Capital Flows to Emerging Market Economies |
| title_exact_search | The Recent Experience with Capital Flows to Emerging Market Economies |
| title_full | The Recent Experience with Capital Flows to Emerging Market Economies Sveinbjörn, Blöndal and Hans, Christiansen |
| title_fullStr | The Recent Experience with Capital Flows to Emerging Market Economies Sveinbjörn, Blöndal and Hans, Christiansen |
| title_full_unstemmed | The Recent Experience with Capital Flows to Emerging Market Economies Sveinbjörn, Blöndal and Hans, Christiansen |
| title_short | The Recent Experience with Capital Flows to Emerging Market Economies |
| title_sort | recent experience with capital flows to emerging market economies |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/387426718682 |
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