This paper examines the implications of the liberalization of capital outflows in China, India, Brazil, and South Africa (CIBS) for other developing countries. It focuses on their prospects of attracting not only foreign direct investment (FDI), but also portfolio capital flows from CIBS. To...

Official Reserves and Currency Management in Asia: Myth, Reality and the Future: Geneva Reports on the World Economy 7 by HANS GENBERG, ROBERT McCAULEY, YUNG CHUL PARK and AVINASH PERSAUD (London: Centre for Economic Policy Research, 2005), pp. 128, £25.00 paperback, ISBN 1 898128 90 1....

This article analyses the content of 15 Poverty Reduction Strategy Papers from a growth and poverty reduction perspective. Contrary to new trends in developed and middle-income countries, their policy frameworks lack the necessary flexibility to deal with external shocks and address...

This paper analyses the macroeconomic impact of East Asia’s growing demand for primary and industrial commodities in four Latin American countries – Brazil, Chile, Peru and Venezuela. The paper shows that whilst the export boom has contributed to improved external accounts in these...

This paper argues that investing in developing countries can be both economically and morally very rewarding. It firstly shows that historically capital invested in developing countries has obtained higher returns than invested in developed countries. It secondly argues that there is also a...

Is the international financial architecture debate over? Not according to leading experts gathered together in this impressive volume who try to identify the key trends that will fashion the international financial system in the years ahead. As history has shown, the evolution of the...

This paper tests for breaks in inflation inertia. It proposes an alternative method that can be relied upon when inflation follows a stationary process that fluctuates around a segmented deterministic trend. This method is then applied to the Brazilian case.