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Notes
- 1.
Despite increasing financial vulnerability, they established that during episodes of global liquidity contraction, economies benefitted from capital inflows driven by domestic investors as they liquidated their foreign investments.
- 2.
Refers to periods when domestic investors increased their flows abroad.
References
Forbes, K. J., & Warnock, F. E. (2011). Capital flow waves: Surges, stops, flight and retrenchments (Working paper 17351). Cambridge, MA: National Bureau of Economic Research.
Rothenberg, A. D., & Warnock, F. E. (2011). Sudden flight and true sudden stops. Review of International Economics, 19(3), 509–524.
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Gumata, N., Ndou, E. (2017). Capital Flow Episodes Shocks, Global Investor Risk and Credit Growth. In: Bank Credit Extension and Real Economic Activity in South Africa. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-43551-0_4
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DOI: https://doi.org/10.1007/978-3-319-43551-0_4
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