01677cas a2200241 a 4500 AALejournalIMF007105 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455228034 1018-5941 BD-DhAAL BD-DhAAL Mitra, Pritha. Capital Flows to EU New Member States : Does Sector Destination Matter? / Pritha Mitra. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (27 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 The recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows. This paper empirically argues that the sectors into which capital flows determines their impact on GDP growth. Applying data from EU New Member States, it is found that capital flows into real estate have a greater impact on swings in GDP than other sectors, irrespective of a country's exchange rate or fiscal policy. Consequently, as new waves of capital inflows spread to emerging markets, policies may usefully focus on supporting capital inflows towards economic sectors that minimize large swings in GDP. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2011/067 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/067/001.2011.issue-067-en.xml IMF e-Library