Chapter

China, India, Brazil, and South Africa: Capital Flows and Exchange Rates. What Lessons Have Been Learnt since the East Asian Crisis of 1997–8?

Marion Pircher

in Southern Engines of Global Growth

Published in print April 2010 | ISBN: 9780199580606
Published online May 2010 | e-ISBN: 9780191723353 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199580606.003.0008

Series: WIDER Studies in Development Economics

China, India, Brazil, and South Africa: Capital Flows and Exchange Rates. What Lessons Have Been Learnt since the East Asian Crisis of 1997–8?

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This chapter discusses the movement of capital flows to and from the exchange rate regimes and monetary policies of China, India, Brazil, and South Africa (CIBS). This chapter compares the level of financial stability and the composition and duration of capital flows of the countries on a policy level according to the “third generation” crisis models'; following which the East Asian Crisis of 1997–8 linkages between the corporate and financial sectors, and foreign short‐term debt are given further attention. The chapter concludes by comparing all four countries and analysing possible risks in CIBS financial systems.

Keywords: Brazil; capital flows; China; exchange rates; financial stability; India; international financial markets; South Africa

Chapter.  8716 words.  Illustrated.

Subjects: Economic Development and Growth

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