International capital flows in calm and turbulent times

The need for new international architecture

Stephany Griffith-Jones, Ricardo Gottschalk, Jacques Cailloux

372 pages, parution le 23/05/2003

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Résumé

International Capital Flows in Calm and Turbulent Times analyzes the financial crises of the late 1990s and draws attention to the type of lenders and investors that triggered and deepened the crises. It concentrates on institutional investors and banks and provides detailed analysis of the countries most affected by the 1997-98 Asian financial crisis as well as the Czech Republic and Brazil. It also suggests necessary international financial reforms to make crises less likely.

The book is unique in its scrutiny of the type of lenders and investors that triggered and deepened the crises, focusing particularly on institutional investors and banks; allocation of their assets; the criteria used in this process; and the impact of the nature of the investor on the volatility of different types of capital flow. It addresses such questions as: What determines or triggers massive changes in perceptions and sentiment by different investors and leaders? To what extent does contagion spread not just among countries but between actors? What are the policy implications of this analysis? The book concludes by examining the asymmetries in the financial architecture discussions and implementation and by offering policy proposals. Targeted at policymakers, financial market participants, international institutions, academics, students, and development practitioners, this book will be an important resource for anyone with a particular interest in macro, financial, and international development issues.

Contents

Global Capital Flows to East Asia: Surges and Reversals
The Role of Mutual Funds and Other International Investors in Currency Crises
International Bank Lending and the East Asian Crisis
Foreign Capital Flows to Thailand: Determinants and Impact
Capital Flows into and from Malaysia
The Recent Economic Crisis in Indonesia: Causes, Impacts, and Responses
Who Destabilized the Korean Stock Market?
The Currency Shake-up in 1997: A Case Study of the Czech Economy
The Swings in Capital Flows and the Brazilian Crisis
The Financial Crises of the Late 1990s: Summary and Policy Lessons
Key Elements for a New International Financial Architecture

Caractéristiques techniques

	PAPIER
Éditeur(s)	The University of Michigan Press
Auteur(s)	Stephany Griffith-Jones, Ricardo Gottschalk, Jacques Cailloux
Parution	23/05/2003
Nb. de pages	372
Format	16 x 23,5
Couverture	Relié
Poids	645g
Intérieur	Noir et Blanc
EAN13	9780472113095
ISBN13	978-0-472-11309-5