Furceri, Davide; Guichard, Stéphanie; Rusticelli, Elena - In: International Finance 15 (2012) 1, pp. 1-35
This paper empirically investigates the relationship between surges in capital inflows and the probability of subsequent banking, currency and balance-of-payment crises. Using a panel of developed and emerging economies from 1970 to 2007, it shows that a large capital inflow episode increases...