scholarly journals Capital flows to emerging economies during and after the global financial crisis in 2008

2013 ◽  
Vol 3 (1) ◽  
pp. 71
Author(s):  
Dr.Sc. Vesna Georgieva Svrtinov ◽  
Dr.Sc. Riste Temjanovski
Keyword(s):  
Financial Crisis ◽  
Emerging Economies ◽  
Capital Flows ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Regional Distribution ◽  
Capital Inflows ◽  
International Capital ◽  
Policy Responses ◽  
The Global Financial Crisis

This paper analyses dynamics of various types of capital flows to emerging economies during and after the global financial crisis. The first part discusses dynamics of various types of international capital flows during the global financial crisis. The second part focuses on the regional distribution of capital inflows to emerging markets economies. The third part raises the issue of the changed pattern of foreign direct investment, observed during and after the global crisis. The fourth part discusses possible policy responses for dealing with volatile capital flows to emerging market economies.

scholarly journals The Macroprudential Role of International Reserves

2016 ◽  
Vol 106 (5) ◽  
pp. 570-573 ◽  
Author(s):  
Olivier Jeanne
Keyword(s):  
Financial Crisis ◽  
Capital Flows ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Capital Controls ◽  
International Reserves ◽  
International Banking ◽  
Flow Management ◽  
The Global Financial Crisis

There has been a lot of interest since the global financial crisis in policies allowing emerging market economies to smooth the effects of the global financial cycle. Although the literature has focused mostly on capital controls emerging market governments have relied mostly on international reserves management. This paper discusses the role of reserves in capital flow management based on a simple welfare-based model of capital flows with international banking frictions.

scholarly journals DECONSTRUCTING DE-GLOBALISATION AS A CHALLENGE USING SAP-LAP ANALYTICAL MODEL: A CASE STUDY OF INDIAN ECONOMY

2021 ◽  
Vol 4 (1) ◽  
pp. 16-25
Keyword(s):  
Financial Crisis ◽  
Analytical Model ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
The United States ◽  
Capital Inflows ◽  
The Global Financial Crisis ◽  
Developed Nations ◽  
Learning Issues

In the years prior to 2008, that is before the global financial crisis, emerging market economies saw vigorous global demand, substantial improvements in terms of trade and abundant capital inflows. However, trade growth has been frail, after the financial crisis and whether this movement is permanent or temporary still needs an answer. It has been found that the world is moving, towards the de-globalisation era and the developed nations have marked its instigation. The United States and Britain have adopted the policy leading to the disassembling of the globalisation period and the trend has now been passed on towards India. In the current study, SAP-LAP analytical model has been used to understand the variables that have brought the shift in paradigm towards deglobalisation in India. The objective of the study is to apply SAP-LAP framework to analyse the determinants consisting of ‘situation’, ‘actors’ and ‘processes’ and ‘learning’, ‘action’, ‘performance’ leading to de-globalisation in the Indian context. This modelling technique will help in listing key learning issues and will suggest necessary actions to be taken to improve selected performance areas

10 Years after the Global Financial Crisis: What Have We Learnt About International Capital Flows?

2017 ◽  
Vol 08 (03) ◽  
pp. 1750017 ◽  
Author(s):  
Stephanie Guichard
Keyword(s):  
Financial Crisis ◽  
Capital Flows ◽  
Global Financial Crisis ◽  
International Capital Flows ◽  
Economic Research ◽  
Financial Instability ◽  
International Capital ◽  
New Findings ◽  
The Global Financial Crisis

Making the most of international capital flows by allowing countries to reap their benefits while reducing associated risks has always been a challenge and has led to considerable economic research over the past 30 years. This challenge became even more acute following the Global Financial Crisis, as new concerns emerged related to the complexity of global financial relations, their role in shock transmission as well as how to protect countries from financial instability. Against this background, recent research has focussed on understanding better the implications of financial globalization for economic stability and the design of policies. This literature review takes stock of these recent developments including the discussion on the risks associated with corporate foreign indebtedness, the role of the global financial cycle in driving financial instability, new findings on the real impact of international capital flows and ongoing debates on the role of capital controls.

scholarly journals Capital account regulation as part of the macroeconomic regime: comparing Brazil in the 1990s and 2000s

2018 ◽  
Vol 15 (3) ◽  
pp. 313-334 ◽  
Author(s):  
Barbara Fritz ◽  
Daniela Magalhães Prates
Keyword(s):  
Comparative Analysis ◽  
Financial Crisis ◽  
Financial Market ◽  
Capital Flows ◽  
Global Financial Crisis ◽  
Capital Account ◽  
International Capital ◽  
Inflation Stabilization ◽  
Account Regulation ◽  
The Global Financial Crisis

Capital account regulation (CAR) has experienced profound reconsideration since the global financial crisis. This new debate focuses on the macroeconomic gains of regulating international capital flows in terms of reducing external and financial vulnerability, but it does not consider relevant aspects relating to the context in which these regulations are implemented. In this paper, we undertake a comparative analysis of similar types of CAR applied in Brazil during the 1990s and 2000s. Based on this analysis, we conclude that for the design of CAR, which is relevant for its effectiveness, institutional features of both the financial market and the macroeconomic regime, shaped by macroeconomic constraints, are relevant. For the case of Brazil, we conclude that, contrary to the 2000s, the strong preference given to inflation stabilization in the 1990s, together with high external vulnerability, strongly limited the CAR's design of this period.

Financialization and state capitalism in Hungary after the Global Financial Crisis

2021 ◽  
pp. 102452942110032
Author(s):  
David Karas
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Active Role ◽  
The State ◽  
State Capitalism ◽  
Political Risks ◽  
Role Of The State ◽  
Advanced Economies ◽  
The Global Financial Crisis

Whereas the active role of the state in steering financialization is consensual in advanced economies, the financialization of emerging market economies is usually examined through the prism of dependency: this downplays the domestic political functions of financialization and the agency of the state. With the consolidation of state capitalist regimes in the semi-periphery after the Global Financial Crisis, different interpretations emerged – some linking state capitalism with de-financialization, others with coercive projects deepening it. Preferring a more granular and multi-dimensional approach, I analyse how different facets of financialization might represent political risks or opportunities for state capitalist projects: Based on the Hungarian example, I first explain how the constitution of a ‘financial vertical’ after 2010 inaugurated a new mode of statecraft. Second, I show how the financial vertical enabled rentier bargains between state and society after 2015 by deepening the financialization of social policy and housing in response to a looming crisis of competitiveness.

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