Capital Flows, Financial Markets and Banking Crises

Capital Flows, Financial Markets and Banking Crises
Title Capital Flows, Financial Markets and Banking Crises PDF eBook
Author Chia-Ying Chang
Publisher Routledge
Pages 298
Release 2017-04-21
Genre Business & Economics
ISBN 1315469391

Download Capital Flows, Financial Markets and Banking Crises Book in PDF, Epub and Kindle

The increasing capital flows in the emerging markets and developed countries have raised various concerns worldwide. One main concern is the impact of the sharp decline of capital flows – so-called sudden stops – on financial markets and the stability of banking systems and the economy. The sudden stops and banking crises have been identified as the two main features of most financial crises, including the recent Asian Financial Crisis and Global Financial Crisis. However, how capital flows and banking crises are connected still remains unanswered. Most current studies on capital flows are empirical work, which faces various challenges. The challenges include how data has been collected and measured in each country and how sensitive the results are to the data and the adopted methodologies. Moreover, the links between capital flows and banking systems have been neglected. This book helps provide some insight into the challenges faced by empirical studies and the lessons of the recent crises. The book develops theoretical analysis to deepen our understanding on how capital flows, banking systems and financial markets are linked with each other and provides constructive policy implications by overcoming the empirical challenges.

Capital Flows and Financial Crises

Capital Flows and Financial Crises
Title Capital Flows and Financial Crises PDF eBook
Author Miles Kahler
Publisher Cornell University Press
Pages 284
Release 2018-09-05
Genre Political Science
ISBN 1501731408

Download Capital Flows and Financial Crises Book in PDF, Epub and Kindle

Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however: surges in lending were followed by the Mexican peso crisis of 1994-95 and the sudden collapse of currencies in Asia in 1997. This volume maps a new and uncertain financial landscape, one in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent crises.The authors—leading economists and political scientists—examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.

Banks on the Brink

Banks on the Brink
Title Banks on the Brink PDF eBook
Author Mark Copelovitch
Publisher Cambridge University Press
Pages 257
Release 2020-02-20
Genre Business & Economics
ISBN 1108489885

Download Banks on the Brink Book in PDF, Epub and Kindle

International capital flow and domestic financial market structures explain why some countries are more vulnerable to banking crises.

Financial Crises Explanations, Types, and Implications

Financial Crises Explanations, Types, and Implications
Title Financial Crises Explanations, Types, and Implications PDF eBook
Author Mr.Stijn Claessens
Publisher International Monetary Fund
Pages 66
Release 2013-01-30
Genre Business & Economics
ISBN 1475561008

Download Financial Crises Explanations, Types, and Implications Book in PDF, Epub and Kindle

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

This Time Is Different

This Time Is Different
Title This Time Is Different PDF eBook
Author Carmen M. Reinhart
Publisher Princeton University Press
Pages 513
Release 2011-08-07
Genre Business & Economics
ISBN 0691152640

Download This Time Is Different Book in PDF, Epub and Kindle

An empirical investigation of financial crises during the last 800 years.

Financial Crises

Financial Crises
Title Financial Crises PDF eBook
Author Mr.Stijn Claessens
Publisher International Monetary Fund
Pages 754
Release 2014-02-19
Genre Business & Economics
ISBN 1484355261

Download Financial Crises Book in PDF, Epub and Kindle

The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

What Caused the Global Financial Crisis

What Caused the Global Financial Crisis
Title What Caused the Global Financial Crisis PDF eBook
Author Erlend Nier
Publisher International Monetary Fund
Pages 64
Release 2010-11-01
Genre Business & Economics
ISBN 1455210722

Download What Caused the Global Financial Crisis Book in PDF, Epub and Kindle

This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii) inadequate supervision and regulation. Panel data regressions are performed for OECD countries from 1999 to 2007, so as to shed light on the relative importance of these factors, as well as the extent to which these factors might have interacted in fuelling the build-up. We find that the build-up of financial imbalances was driven by capital inflows and an associated compression of the spread between long and short rates. The effect of capital inflows on the build-up is amplified where the supervisory and regulatory environment was relatively weak. We find that, by contrast, differences in monetary policy cannot account for differences across countries in the build-up of financial imbalances ahead of the crisis.