Regional and global capital flows : macroeconomic causes and consequences / edited by Takatoshi Ito and Anne O. Krueger.

"This volume contains edited versions of papers presented at the NBER's East Asia Seminar on Economics tenth annual conference, held in Kona, Hawaii, on 10-12 june 1999"--Page ix.

Includes bibliographical references and indexes.

Acknowledgments; Introduction; 1. Fundamental Determinants of the Asian Crisis: The Role of Financial Fragility and External Imbalances; 2. Lending Booms and Currency Crises: Empirical Link; 3. Bank Lending and Contagion: Evidence from the Asian Crisis; 4. The Impacts of Bank Loans on Economic Development: An Implication for East Asia from an Equilibrium Contract Theory; 5. How Were Capital Inflows Stimulated under the Dollar Peg System?; 6. Sterilization and the Capital Inflow Problem in East Asia, 1987-97.

The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly "globalized." Here Takatoshi Ito and Anne O. Krueger, two leading experts on this topic, have assembled a group of scholars who address different types of capital flows--bank lending, bonds, direct foreign investment--and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model for policy makers everywhere in thinking about the rol.

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