lecture du role joue par les sorties de capitaux dans les episodes de crises emergentes. …

The goal of the paper is to analyze how financial and economic crises affect the relation between capital flows and … correspond to two crises dates. Our results show changes in the sign and/or coefficient of a number of determinants in both types …

financial crises. We show that gross capital flows by foreigners and domestic agents are very large and volatile, especially … domestic agents tend to invest more abroad. During crises, there is retrenchment, i.e. a reduction in capital inflows by … foreigners and an increase in capital inflows by domestic agents. This is especially true during severe crises and during …

flows--over the business cycle and during financial crises. We show that gross capital flows are very large and volatile … investing more abroad during expansions. During crises, especially during severe ones, there is retrenchment, that is, a …

flows, over the business cycle and during financial crises. We show that gross capital flows are very large and volatile … more abroad. During crises, total gross flows collapse and there is a retrenchment in both inflows by foreigners and … outflows by domestic agents. These patterns hold for different types of capital flows and crises. This evidence sheds light on …

More frequent and increasingly severe crises are encouraging emerging market economies to seek means to make themselves …