Sudden Stops in International Capital Flows

This dataset contains quarterly indicators of sudden stop episodes in international capital flows, constructed for up to 64 advanced and emerging economies over the period 1980Q1–2024Q4. The unit of observation is a country–quarter pair, and the dataset covers multiple categories of capital flows, including total flows, portfolio flows (equity and debt), and other investment flows (cross-border bank lending).Sudden stop episodes are identified following the methodology of Forbes and Warnock (2012, 2021), based on year-over-year changes in four-quarter cumulative capital flows and country-specific rolling thresholds. Sudden stop dummy variables are constructed separately for each flow category to capture heterogeneity across capital flow types. All capital flow variables are scaled by nominal GDP in U.S. dollars. The dataset additionally includes global push factors (such as global risk, global interest rates, global liquidity, and global growth), domestic macroeconomic fundamentals, measures of domestic financial vulnerabilities, and macroprudential policy tightening indicators.