Regional and Global Capital FlowsMacroeconomic Causes and Consequences

Regional and Global Capital FlowsMacroeconomic Causes and Consequences

Takatoshi Ito Ito and Anne O. Krueger

Print publication date: 2013

ISBN: 9780226386768

Publisher: University of Chicago Press

Abstract

The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly “globalized.” Here, two experts on this topic have assembled a group of scholars who address different types of capital flows—bank lending, bonds, direct foreign investment—and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model which is concerned with the role of private capital flows.

Table of Contents

Introduction

Takatoshi Ito and Anne O. Krueger

1 Fundamental Determinants of the Asian Crisis

Giancarlo Corsetti, Paolo Pesenti, and Nouriel Roubini

3 Bank Lending and Contagion

Graciela L. Kaminsky and Carmen M. Reinhart

7 Credibility of Hong Kong's Currency Board

Yum K. Kwan, Francis T. Lui, and Leonard K. Cheng

9Social Benefits and Losses from FDI

Assaf Razin, Efraim Sadka, and Chi-Wa Yuen

10 Currency Crisis of Korea

Dongchul Cho and Kiseok Hong