Capital flows and the current account: Taking financing (more) seriously

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Capital flows and the current account: Taking financing (more) seriously

BIS Working Papers | No 525 | 20 October 2015by Claudio Borio and Piti DisyatatPDF full text (561kb) | 50 pagesThis paper questions the appropriateness of popular analytical frameworks that focus on current accounts or net capital flows as a basis for assessing the pattern of cross-border capital flows, the degree of financial integration and the vulnerability of countries to financial crises.

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