Crisis x Capital Flows (Ghosh & Qureshi)F

What drives surges in capital flows? by Atish R. Ghosh and Mahvash Saeed Qureshi published by VOXEU. “In the immediate aftermath of the global financial crisis, there was a rapid surge in net capital flows to emerging market economies. The subsequent decline in recet months has been even more rapid. Looking at data on 56 capital surges between 1980 and 2009, this column examines the causes of the mercurial movement of capital flows across countries and outlines the implications for policy.”