Sailing Through this Storm? Capital Flows in Asia During the Crisis

22 Pages Posted: 23 Aug 2012

See all articles by Cédric Tille

Cédric Tille

Graduate Institute of International and Development Studies (HEI)

Date Written: August 2012

Abstract

The 2007–2009 crisis has led to an unprecedented collapse in international capital flows. Asian economies were, however, relatively unaffected: the contraction in their capital flows was limited to the most acute phase of the crisis in late 2008, followed by a rapid rebound. We show that this reflects both Asia's structural characteristics, such as limited reliance on international banking, and Asian specificities in the form of a limited impact of international bank exposure on capital flows. We also find evidence of a connection between the use of reserves and variations in net private capital inflows.

Suggested Citation

Tille, Cedric, Sailing Through this Storm? Capital Flows in Asia During the Crisis (August 2012). Pacific Economic Review, Vol. 17, Issue 3, pp. 467-488, 2012. Available at SSRN: https://ssrn.com/abstract=2134753 or http://dx.doi.org/10.1111/j.1468-0106.2012.00593.x

Cedric Tille (Contact Author)

Graduate Institute of International and Development Studies (HEI) ( email )

PO Box 136
Geneva, CH-1211
Switzerland

HOME PAGE: http://sites.google.com/site/cedrictilleheid/home

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