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Sudden capital outflows were at the heart of the 1997-8 Asian Crisis. Ten years later, capital flows are back on the policy agenda, but in a very different context. The countries of East Asia are now getting more inflows than they can effectively absorb and the upward pressure on exchange rates is unwelcome.
Central banks and capital flows
About the author
Stephen Grenville
Dr Grenville is a Nonresident Fellow at the Lowy Institute.
Topics
These issues are discussed in this paper, 'Central banks and capital flows', by Dr Stephen Grenville, in the Lowy Institute's Working Paper in International Economics series.
