currency and reduce net exports. Emerging-market policymakers however believe that inflows lead to credit booms and rising … output, and the evidence appears to go their way. To reconcile theory and reality, we extend the set of assets included in …

currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising … output, and the evidence appears to go their way. To reconcile theory and reality, we extend the set of assets included in …

currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising … output, and the evidence appears to go their way. To reconcile theory and reality, we extend the set of assets included in …

are expansionary to output and credit growth. But contrary to the model predictions and empirical findings of Blanchard et … impact on output and credit growth if the exchange rate is managed, if the domestic capital market is underdeveloped, if the … Blanchard et al. (2015), non-bond inflows have a positive overall impact on output and credit growth despite receiving …