NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Country Risk and Capital Flow Reversals

Assaf Razin, Efraim Sadka

NBER Working Paper No. 8171
Issued in March 2001
NBER Program(s):   IFM

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.

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Document Object Identifier (DOI): 10.3386/w8171

Published: Razin, Assaf and Efraim Sadka. "Country Risk And Capital Flow Reversals," Economics Letters, 2001, v72(1,Jul), 73-77.

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