Global Finance Today: Deja Vu? C.P. Chandrasekhar

This article describes and analyses a set of new characteristics in the nature of financial integration of developing countries with their developed counterparts over the last four years. It argues that this represents a transformation where the risks associated with the current surge in capital flows are far greater than World Bank predictions and that a turn in the investment cycle, with far-reaching implications, is real and imminent.

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