Bond flows to Less Developed Countries (LDCs) proved more resilient than expected to the rising U.S. interest rates during 1994, raising hopes that the current episode of private capital flows to LDCs may not end in a widespread crisis as its predecessors in the 1920s and 1970s did. This paper...

Originally appeared in the Federal Reserve Bank of San Francisco Economic Review supplement, Spring 1977

Originally appeared in the Federal Reserve Bank of New York Quarterly Review, Autumn 1977

a speech at the Symposium on Liquidity of the National Association of Accountants, New York City, October 30, 1975

originally appeared in the Federal Reserve Bank of Philadelphia Business Review, July/August 1977, p. 3-12

Originally appeared in the Federal Reserve Bank of St. Louis Review, January 1975

Speech at the M.B.A. graduation exercises of the Fordham Graduate School of Business, New York City, June 28, 1978