02240cas a2200277 a 4500 AALejournalIMF013849 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484389041 1018-5941 BD-DhAAL BD-DhAAL Bluedorn, John. Capital Flows are Fickle : Anytime, Anywhere / John Bluedorn, Rupa Duttagupta, Jaime Guajardo, Petia Topalova. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (37 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 Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt. Mode of access: Internet Duttagupta, Rupa. Guajardo, Jaime. Topalova, Petia. IMF Working Papers; Working Paper ; No. 2013/183 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/183/001.2013.issue-183-en.xml IMF e-Library