TY  - BOOK
AU  - Eichengreen,Barry
AU  - Adalet,Muge
ED  - National Bureau of Economic Research.
TI  - Current Account Reversals: Always a Problem? 
T2  - NBER working paper series
PY  - 2005///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - September 2005; Hardcopy version available to institutional subscribers
N2  - Using panel data and case studies, we analyze the pre-1970 history of international capital flows and current account reversals. Considering a sample of emerging markets and advanced economies with per capita GDPs at least 60 per cent those of the lead country, we show that the incidence of reversals has been unusually great in recent years. The only prior period that matched the last three decades in terms of the frequency and magnitude of reversals was the 1920s and 1930s, decades notorious for the instability of capital flows. In contrast, reversals were both less common and smaller in the Bretton Woods and pre-World War I gold standard eras
UR  - https://www.nber.org/papers/w11634
UR  - http://dx.doi.org/10.3386/w11634
ER  -