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This analysis does not mean that cross-border flows of capital should be severely stifled, much less eliminated entirely. But within the category of foreign capital, some types pose greater risks than others, much as certain kinds of cholesterol are beneficial for the heart while others clog the arteries. In the "good cholesterol" capital
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
This framework gives important insights in a debt-driven World. First-and-foremost, financial markets increasingly operate as vast debt refinancing mechanisms not new capital-raising vehicles . Second, domestic and international capital flows represent key drivers of the economic system. Increasingly cross-border flows determine trade balances, not
... See moreMichael Howell • The Crest of a Wave
The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It (Grove Art)
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Here the basic assumption is that capital inflows precede and cause growth.
