An analysis of the connections between capital flows and financial crises as well as between capital flows and economic growth.

Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however:

The increasing capital flows in the emerging markets and developed countries have raised various concerns worldwide. One main concern is the impact of the sharp

International Capital Flows in Calm and Turbulent Times analyzes the financial crises of the late 1990s and draws attention to the type of lenders and investors

Using a sample of 34 emerging markets and developing economies over the period 2009Q3-2015Q4, the paper employs a panel framework to study the determinants of c