Regional and Global Capital Flows

The volume of capital flows between industrial and developing countries has grown dramatically in the past decade and has become a major issue in a world that is increasingly "globalized." Here Takatoshi Ito and Anne O. Krueger, two leading experts on this topic, have assembled a group of scholars who address different types of capital flows--bank lending, bonds, direct foreign investment--and the implications they hold for economic performance. With its particular focus on the Asian financial crises, this work presents a new model for policy makers everywhere in thinking about the role of private capital flows.

Takatoshi Ito is a professor in the Institute of Economic Research at Hitotsubashi University, Tokyo, and a research associate of the National Bureau of Economic Research.

Anne O. Krueger is the Herald L. and Caroline L. Ritch Professor of Economics, a senior fellow of the Hoover Institution, the director of the Center for Research in Economic Development and Policy Reform at Stanford University, and a research associate of the National Bureau of Economic Research.