This paper describes the stylized facts characterizing periods of exceptionally large capital inflows in a sample of 70 … middle- and high-income countries over the last 35 years. We identify 155 episodes of large capital inflows and find that … capital inflows capital and labor shift out of the manufacturing sector, especially if the inflows begin during a period of …

banks starved for capital. In September 1995, the Mitsubishi Bank was permitted to issue a complicated convertible security …'s annualized risk-adjusted cost of capital through this instrument was between 80 and 310 basis points higher than if the bank had …

with an eye to rehabilitating convex costs of adjusting the capital stock. In recent firm-level work, the response of …, implying annual capital-stock adjustment speeds on the order of 15 to 35 percent. In aggregate data, I find that this … "fundamentalist" model can account for the reduced-form effect of output on investment and the estimated capital-stock adjustment …