Sudden Stops and Currency Drops : A Historical Look

A Historical Look

Sudden Stops and Currency Drops : A Historical Look
This paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing countries then faced episodic capital flow reversals averaging some 5 percent of GDP and with a median duration of four years. Most SSs... READ MORE...

Publication date: May 2006
ISBN 9781451863932
$15.00

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