Capital Flows, Push versus Pull Factors and the Global Financial Crisis

Marcel Fratzscher

NBER Working Paper No. 17357
Issued in August 2011

---- Acknowledgements -----

I would like to thank Charles Engel, Kristin Forbes, Jeff Frankel, and my discussant Carmen Reinhart, as well as the other participants at the 2010 pre-conference and the 2011 Bretton Woods conference of the NBER/Sloan Global Financial Crisis project for comments and discussion. I am grateful to Daniel Schneider for excellent research assistance. The views expressed in this paper are those of the author and do not necessarily reflect those of the European Central Bank, the Eurosystem, or the National Bureau of Economic Research.

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