Capital Flows to Emerging Markets: Liberalization, Overshooting, and Volatility
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The paper analyzes the impact of financial liberalizations and reforms in emerging markets on the dynamics of capital flows to these markets, using a simple model of international investors' behavior. We first show that the gradual nature of liberalizations, combined with the cost of absorbing large
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美国国家经济研究局创建时间：
1998-04-01
