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What Lessons have been learnt since the East Asian Crisis in 1997/98? CIBS, Capital Flows, and Exchange Rates

This paper discusses the movement of capital flows to and from the exchange rate regimes and monetary policies of China, India, Brazil, and South Africa (CIBS). Furthermore, we compare the level of financial stability, and the composition and duration of capital flows of the countries on a policy level according to the ‘ “third generation” crisis models’; following which the East Asian Crisis of 1997/98 linkages between the corporate and financial sectors, and foreign short-term debt are given further attention. The paper concludes by comparing all four countries and analysing possible risks in CIBS financial systems.
Publisher:
UNU-WIDER
Series:
WIDER Research Paper
Volume:
2008/73
Title:
What Lessons have been learnt since the East Asian Crisis in 1997/98? CIBS, Capital Flows, and Exchange Rates
Authors:
Marion Pircher
Publication date:
September 2008
ISSN Web:
1810-2611
ISBN 13 Web:
9789292301279
Copyright holder:
© UNU-WIDER
Copyright year:
2008
Keywords:
international financial markets, financial stability, capital flows, exchange rates, China, India, Brazil, South Africa
JEL:
F32, G15, N20
Project:
Southern Engines of Global Growth
Sponsor:
The governments of Denmark (Royal Ministry of Foreign Affairs), Finland (Ministry for Foreign Affairs), Norway (Royal Ministry of Foreign Affairs), Sweden (Swedish International Development Cooperation Agency — Sida) and the United Kingdom (Department for International Development).
Format:
online
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