Capital Flows (Pradhan et ali.)

Policy responses to capital flows in emerging markets by Mahmood Pradhan, Ravi Balakrishnan, Reza Baqir, Geoffrey Heenan, Sylwia Nowak, Ceyda Oner and Sanjaya Panth, published by IMF. This note documents the recent rise capital inflows to EMs in Asia relative to previous episodes of high inflows and provides an empiriical assessment of the impact on local markets and yields, the paper also reviews the experience of selected non-Asina EMs Brazil, South Africa, and Turkey.