Capital Inflows, Exchange Rate Flexibility and Credit Booms
Magud, Nicolas E. and Reinhart, Carmen M. and Vesperoni, Esteban, Capital Inflows, Exchange Rate Flexibility and Credit Booms (August 2014). Review of Development Economics, Vol. 18, Issue 3, pp. 415-430, 2014. Available at SSRN: http://ssrn.com/abstract=2472247 or http://dx.doi.org/10.1111/rode.12093 “Historically, capital flow bonanzas have often fueled sharp credit expansions in advanced and emerging market economies alike. Focusing primarily on emerging …