This paper proposes a new taxonomy of Sudden Stops comprised of seven categories with definitions depending on the behavior of gross and net capital flows. The incidence of different types of Sudden Stops is tracked over time and the type of Sudden Stop related to economic performance. Sudden...

This paper explores whether the level of financial integration of banks in a country increases the incidence of systemic banking crises. The paper uses a de facto proxy for financial integration based on network statistics of banks participating in the global market of interbank syndicated...

This paper presents an analytical overview of recent contributions to the literature on the policy implications of capital flows in emerging and developing countries, focusing specifically on capital inflows as well as on the links between inflows and subsequent capital-flow reversals. The...

Esta evaluación del programa del Banco en Argentina comprende el período 1990-2002. El informe (RE-299) tiene como objetivo evaluar los distintos aspectos de la relación del Banco con el país para así aprender de la experiencia, mejorar el diálogo y potenciar la contribución al...

En 1998, en el contexto de perturbaciones financieras internacionales "imprevistas", y preocupada por el impacto negativo que las mismas pudieran suscitar sobre los países de la región, la Asamblea de Gobernadores autorizó la posibilidad del otorgamiento de préstamos de rápido desembolso en...

This study deals with the appropriate macroeconomic policies toward international capital flows. It argues that countries in a position to integrate themselves into world capital markets should develop specific policies to deal with capital flows. This paper first shows that foreign capital...