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.

(599 K)

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

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