01762cas a2200253 a 4500 AALejournalIMF001836 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846331 1018-5941 BD-DhAAL BD-DhAAL Mody, Ashoka. International Capital Crunches : The Time-Varying Role of Informational Asymmetries / Ashoka Mody, Mark Taylor. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (26 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal and the actual amount of the flow is determined by the 'short side' of the market. We are thus able to detect instances of 'international capital crunch'-where capital flows are curtailed because of supply-side rationing-and to relate these instances to movements in the underlying fundamentals. The analysis highlights the role of asymmetric information-as distinct from the traditional concern with default risk-in conditioning capital flows. Mode of access: Internet Taylor, Mark. IMF Working Papers; Working Paper ; No. 2002/043 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/043/001.2002.issue-043-en.xml IMF e-Library