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Short-Term Capital Flows and Economic Crises

Stephany Griffith-Jones, Manuel F. Montes, and Anwar Nasution


The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 — and their high development costs — raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. This book examines in depth the macroeconomic and other policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises. The studies are based on comparative case studies of key emerging economies. Valuable insights ... More

Keywords: emerging economies, financial flows, financial markets, developing countries, mutual funds, capital markets, currency crises, East Asian economies, Mexico, international capital

Bibliographic Information

Print publication date: 2001 Print ISBN-13: 9780198296867
Published to Oxford Scholarship Online: October 2011 DOI:10.1093/acprof:oso/9780198296867.001.0001


Affiliations are at time of print publication.

Stephany Griffith-Jones, editor
University of Sussex and Commonwealth Secretariat

Manuel F. Montes, editor
Ford Foundation

Anwar Nasution, editor
Central Bank of Indonesia and University of Indonesia