We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

A potentially important side effect of quantitative easing (QE) by the United States (US) Federal Reserve System (the Fed) is the expansion of capital flows into developing countries. As a result, there is widespread concern that QE tapering may trigger financial instability in those countries....

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

Gauging foreign (domestic) biases as the deviation of foreign (domestic) investors' actual portfolio allocation of a bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and domestic investment biases in 41 global bond markets. We find...

"Asian financial systems, which serve the most economically dynamic region of the world, survived the global economic crisis of the last several years. In this book scholars argue in separate essays that Asian systems must strengthen their quality, diversity, and resilience to future shocks in...

We analyze and compare the pattern of economic growth and development of China and South Korea in the postwar period. Geographical proximity and cultural affinity between the two countries, as well as the key role of the developmental state in the economies of both countries, suggests that an...

An integral part of global current account imbalances is the large and persistent current account surplus developing Asia has run since the 1997-1998 Asian crisis. A country's current account surplus is, by definition, equal to its net saving. The central objective of this paper is to...