Intro -- Contents -- EXECUTIVE SUMMARY -- I. INTRODUCTION -- II. A BRIEF OVERVIEW OF THEORY -- III. MEASURING FINANCIAL OPENNESS -- IV. PATTERNS OF FINANCIAL GLOBALIZATION -- V. MACROECONOMIC EVIDENCE ON EFFECTS OF FINANCIAL GLOBALIZATION -- VI. HOW DOES THE COMPOSITION OF CAPITAL FLOWS MATTER?...

Intro -- Contents -- I. INTRODUCTION -- II. SUDDEN STOPS AND MULTILATERAL INSURANCE -- III. CAPITAL FLOWS AND SUDDEN STOPS -- IV. IMF-SUPPORTED PROGRAMS -- V. MULTIVARIATE ANALYSIS -- VI. IMF-SUPPORTED PROGRAMS AND SUDDEN STOPS -- VII. EXTENSIONS -- VIII. CONCLUSIONS AND IMPLICATIONS -- Appendix...

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by many emerging market economies. It offers an empirical analysis of the key determinants affecting the decision to undertake these measures over the period September 2008-March...