When Capital Inflows Come to a Sudden Stop : Consequences and Policy Options

@inproceedings{Calvo1999WhenCI,
  title={When Capital Inflows Come to a Sudden Stop : Consequences and Policy Options},
  author={Guillermo Calvo and Carmen M. Reinhart},
  year={1999}
}
In this paper we present evidence that capital account reversals have become more severe for emerging markets. Because policy options are limited in the midst of a capital market crisis and because so many countries have already had crises recently, we focus on some of the policies that could reduce the incidence of crises in the first place, or at least make the sudden stop problem less severe. In this regard, we consider the relative merits of capital controls and dollarization. We conclude… CONTINUE READING
Highly Influential
This paper has highly influenced 18 other papers. REVIEW HIGHLY INFLUENTIAL CITATIONS

From This Paper

Figures, tables, and topics from this paper.

Citations

Publications citing this paper.

References

Publications referenced by this paper.
Showing 1-10 of 10 references

Do Capital Controls Influence the Volume and Composition of Capital Flows? Evidence from the 1990s,” forthcoming in Journal of International Money and Finance

  • Montiel, Peter, Carmen M. Reinhart.
  • 18, No. 4, August.
  • 1999

Fixed versus Flexible Exchange Rates: Preliminaries to a Turnof-Millennium Rematch,

  • Calvo, A Guillermo
  • 1999

A.,1998a. “Capital Flows and Capital Market Crises: The Simple

  • Calvo, Guillermo
  • 1998

A.,1998b, “Understanding the Russian Virus: With Special Reference to Latin America

  • Calvo, Guillermo
  • 1998

Some Lessons for Policy Makers Who Deal with the Mixed Blessing of Capital Inflows

  • Reinhart, M Carmen, R Vincent
  • 1998

The Aftermath of the 1992 ERM Breakup: Was there A Macroeconomic Free Lunch.

  • Gordon, J Robert
  • 1998

The Source of Fluctuations in Money: Evidence from Trade Credit,

  • V. A. Ramey
  • Journal of Monetary Economics,
  • 1992
1 Excerpt

Are Devaluations Contractionary?

  • Edwards, Sebastian
  • 1986

Similar Papers

Loading similar papers…