New Arrivals/Restock

The essays in this volume examine the theoretical and policy issues associated with international capital flows and exchange rates for emerging markets in the Pacific Basin region. The essays address four broad issues. First, they investigate the determinants of international capital flows, particularly the relative role of domestic and external factors in driving capital flows. Second, they inquire how predictable and contagious capital flow reversals and exchange rate crises are. Third, they explore what the domestic economic effects of capital inflows on emerging economies have been and, fourth, seek to suggest what are the appropriate responses by policy makers to capital inflow surges.