Trends in global finance, markets and institutions: some implications for developments in the Asian region
The paper briefly describes three interrelated developments in global capital markets: the sustained rise in gross capital flows relative to net flows; the increasing importance of securitised forms of capital flows; and the growing concentration of financial institutions and financial markets. It examines why these developments have contributed to a sharp rise in the volatility of capital flows and asset prices. Finally, it considers the implications for the ongoing development of capital...[Show more]
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