Short-Term Capital Flows and Economic Crises

The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994—and their high development costs—raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. Written by senior policy-makers and academics, the contributions to this volume examine in depth the macroeconomic and policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital moveme…