The article analyses the problem of international capital mobility which the Asian crisis has highlighted. It points out that the problem of capital mobility ("hot money" panics) has a long history, but globalization, the opening up of national economies and technological advance have increased...

If a country with a balance of payments problem, that is, insufficient foreign exchange receipts to meet foreign exchange requirements, seeks to remedy the situation by currency devaluation, things may get worse before they get better. This so-called J-curve effect occurs if the...

The article analyses the problem of international capital mobility which the Asian crisis has highlighted. It points out that the problem of capital mobility ("hot money" panics) has a long history, but globalization, the opening up of national economies and technological advance have increased...