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Stiglitz, Joseph E.; G├╝rkaynak, Refet S.

Currency flows have always been a leading policy concern, especially in emerging markets. The long Japanese slump, the ensuing very low interest rates in Japan that have lasted 20 years, and the carry trades this fostered made currency flows a hot topic again, even before the global financial crisis increased liquidity in all developed economies and led to a new wave of currency flows to emerging market economies.


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Taming Capital Flows: Capital Account Management in an Era of Globalization
Palgrave Macmillan

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April 15, 2019


Also in IEA Conference Volume No. 154.

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