Much concern has been expressed about the apparently adverse response of private investment to structural adjustment and other economic reform programmes, even in countries where these reforms appear to have been fairly successful according to other criteria. This issue is examined for the case...

Global current account imbalances were a major subject of concern in the years before the recent financial crisis. It is shown that the expected (negative) equilibrium relationship between net foreign assets and the trade balance that had held in the previous twenty years appeared to break down...

We compare the relationship between net capital inflows, real exchange rate movements and growth for twenty emerging markets and thirteen developed countries over the period 1985-2004. In developed countries low real exchange rates are associated with faster growth, but in emerging markets...