September 1998 Foreign direct investment and, more recently, short-term debt and portfolio flows have become important parts of private capital flows to Central

The 1990s witnessed several acute currency crises among developing nations that invariably spread to other nearby at-risk countries. These episodes—in Mexico,

Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movem

Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic

We examine the evolution of the net external asset positions of Central and Eastern Europe (CEEC) countries over the past decade, with a strong emphasis on the