Senior bankers, regulators, and well-known academics explain the behavior of different players. The book breaks new ground by showing in detail how such behavior has contributed to the decline of flows and their volatility....

Global Capital Flows examines the rapid growth and dramatic changes in capital flows globally and in emerging markets. In the context of relevant economic theory, it analyzes benefits and costs of large and volatile capital flows to developing countries; the latter include damaging currency crises in Mexico and East Asian economies....