Country Risk and Capital Flow Reversals
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.