Current account reversals
Subtitle: always a problem?
By: Barry Eichengreen, Muge Adalet.
Contributors: Adalet, Muge.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11634; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11634.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Balance of payments -- Developing countries.; Budget deficits -- Developing countries.; Financial crises -- Developing countries.
Description: "Using panel data and case studies, we analyze the pre-1970 history of international capital flows and current account reversals.  Considering a sample of emerging markets and advanced economies with per capita GDPs at least 60 per cent those of the lead country, we show that the incidence of reversals has been unusually great in recent years.  The only prior period that matched the last three decades in terms of the frequency and magnitude of reversals was the 1920s and 1930s, decades notorious for the instability of capital flows.  In contrast, reversals were both less common and smaller in the Bretton Woods and pre-World War I gold standard eras"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 9/30/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.