Country Risk and Capital Flow ReversalsAssaf Razin, Efraim Sadka
NBER Working Paper No. 8171 A financial crisis with a capital flow reversal occurs when a country shifts abruptly from a 'good' equilibrium with a low country-specific risk premium to a 'bad' equilibrium with a high country-specific risk premium and no foreign credit. Published: Razin, Assaf and Efraim Sadka. "Country Risk And Capital Flow Reversals," Economics Letters, 2001, v72(1,Jul), 73-77. This paper is available as PDF (599 K) or via email.
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