Anton Korinek - Capital Flows, Crises and Externalities: A Primer

The presentation explores the externalities of financial crises, focusing on emerging markets and the global financial architecture. It discusses historical data on capital mobility and financial crises, highlighting the correlation between them. Various crisis models are examined, emphasizing the role of government policies and balance sheet problems. The presentation delves into feedback loops, market forces, and the dual role of exchange rates during crises. It argues for policy measures to mitigate externalities, stressing the importance of liquidity and regulation to enhance economic stability and growth.

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