Asset bubbles and sudden stops in a small open economy

One of the most striking features of the world economy over the last twenty-five years has been the sharp decline in the real interest rate from approximately 4% in the early 1990s to -1.5% in 2013 (figure 1). During this period there have been two waves of large capital inflows into emerging econom...

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Autores principales:	Martin, Alberto, Ventura, Jaume
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	TASAS DE INTERÉS CRISIS FINANCIERA CRISIS ECONÓMICA 2008
Acceso en línea:	https://hdl.handle.net/20.500.12580/3895
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spelling	oai-20.500.12580-38952021-04-24T11:17:14Z Asset bubbles and sudden stops in a small open economy Martin, Alberto Ventura, Jaume TASAS DE INTERÉS CRISIS FINANCIERA CRISIS ECONÓMICA 2008 One of the most striking features of the world economy over the last twenty-five years has been the sharp decline in the real interest rate from approximately 4% in the early 1990s to -1.5% in 2013 (figure 1). During this period there have been two waves of large capital inflows into emerging economies (figure 2). In the first wave which began in the early 1990s and ended with the Asian crisis of 1997 net capital flows to these economies went from zero to approximately 3.5% of their combined GDP. The second wave started in the early 2000s and peaked in 2007 as inflows reached approximately 5% of emerging-market GDP. Capital inflows contracted sharply during the financial crisis of 2008-2009 but they have rebounded since. 2019-11-01T00:07:12Z 2019-11-01T00:07:12Z 2015 Artículo 978-956-7421-47-3 https://hdl.handle.net/20.500.12580/3895 eng Series on Central Banking Analysis and Economic Policies no. 20 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 315-341 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	TASAS DE INTERÉS CRISIS FINANCIERA CRISIS ECONÓMICA 2008
spellingShingle	TASAS DE INTERÉS CRISIS FINANCIERA CRISIS ECONÓMICA 2008 Martin, Alberto Ventura, Jaume Asset bubbles and sudden stops in a small open economy
description	One of the most striking features of the world economy over the last twenty-five years has been the sharp decline in the real interest rate from approximately 4% in the early 1990s to -1.5% in 2013 (figure 1). During this period there have been two waves of large capital inflows into emerging economies (figure 2). In the first wave which began in the early 1990s and ended with the Asian crisis of 1997 net capital flows to these economies went from zero to approximately 3.5% of their combined GDP. The second wave started in the early 2000s and peaked in 2007 as inflows reached approximately 5% of emerging-market GDP. Capital inflows contracted sharply during the financial crisis of 2008-2009 but they have rebounded since.
format	Artículo
author	Martin, Alberto Ventura, Jaume
author_facet	Martin, Alberto Ventura, Jaume
author_sort	Martin, Alberto
title	Asset bubbles and sudden stops in a small open economy
title_short	Asset bubbles and sudden stops in a small open economy
title_full	Asset bubbles and sudden stops in a small open economy
title_fullStr	Asset bubbles and sudden stops in a small open economy
title_full_unstemmed	Asset bubbles and sudden stops in a small open economy
title_sort	asset bubbles and sudden stops in a small open economy
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3895
work_keys_str_mv	AT martinalberto assetbubblesandsuddenstopsinasmallopeneconomy AT venturajaume assetbubblesandsuddenstopsinasmallopeneconomy
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Asset bubbles and sudden stops in a small open economy

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