Abstract
Since the demise of the Bretton Woods system of exchange rate management and consequent dismantling of a broad range of exchange controls, there has been enormous growth in the volume of international capital flows to advanced and emerging economies around the globe. Meanwhile, liberalized capital accounts have increased emerging economies’ financial vulnerability to sudden international capital flow reversals of the magnitude witnessed in East Asia and other developing economies in the late 1990s.
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© 2009 Anthony J. Makin
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Makin, A.J. (2009). Capital Mobility and National Income. In: Global Imbalances, Exchange Rates and Stabilization Policy. Palgrave Macmillan, London. https://doi.org/10.1057/9780230250758_5
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DOI: https://doi.org/10.1057/9780230250758_5
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