Sudden stops: Determinants and output effects in the first era of globalization, 1880–1913

We study the determinants and output effects of sudden stops in capital inflows during an era of intensified globalization from 1880 to 1913. Higher levels of exposure to foreign currency debt and large current account deficits associated with reliance on foreign capital greatly increased the likeli...

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Bibliographic Details
Published in:Journal of development economics 2010-03, Vol.91 (2), p.227-241
Main Authors: Bordo, Michael D., Cavallo, Alberto F., Meissner, Christopher M.
Format: Article
Language:English
Subjects:
Candidates
Capital flow
Capital market
Capital markets
Capital movement
Economic crisis
Economic growth
Economic impact
External debt
Financial crises
Financial crisis
Financial economics
Financial globalization
Financial history
Foreign capital
Foreign debt
Globalization
International finance
Openness
Output
Studies
Sudden stops
Sudden stops Economic growth Financial crises Foreign debt Financial globalization
Trends
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