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SURGING CAPITAL FLOWS TO EMERGING ASIA: FACTS, IMPACTS AND RESPONSES

SURGING CAPITAL FLOWS TO EMERGING ASIA: FACTS, IMPACTS AND RESPONSES Net capital flows to Emerging Asia rebounded at a record pace following the global financial crisis, raising concerns about overheating and financial stability. This paper documents the size and composition of the most recent surge to Asian emerging markets from a historical perspective and compares developments in the broader economy, asset prices, and corporate variables across the different episodes of strong inflows. We find little evidence of a significant build-up of imbalances and resource misallocation during the most recent surge. We also review country experiences in managing the risks associated with inflows and argue that Asian countries have used regulatory measures during past surges. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of International Commerce, Economics and Policy World Scientific Publishing Company

SURGING CAPITAL FLOWS TO EMERGING ASIA: FACTS, IMPACTS AND RESPONSES

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References (7)

Publisher
World Scientific Publishing Company
Copyright
Copyright ©
ISSN
1793-9933
eISSN
1793-9941
DOI
10.1142/S1793993313500075
Publisher site
See Article on Publisher Site

Abstract

Net capital flows to Emerging Asia rebounded at a record pace following the global financial crisis, raising concerns about overheating and financial stability. This paper documents the size and composition of the most recent surge to Asian emerging markets from a historical perspective and compares developments in the broader economy, asset prices, and corporate variables across the different episodes of strong inflows. We find little evidence of a significant build-up of imbalances and resource misallocation during the most recent surge. We also review country experiences in managing the risks associated with inflows and argue that Asian countries have used regulatory measures during past surges.

Journal

Journal of International Commerce, Economics and PolicyWorld Scientific Publishing Company

Published: Apr 1, 2013

Keywords: Capital inflows Emerging Asia global financial crisis (GFC) macroprudential measures

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