Outflows during normalisation proportional to earlier inflows, paper warns
The larger the capital inflows into emerging markets on account of unconventional monetary policy, the larger the capital outflows will be during normalisation, a working paper published by the Bank of Korea suggests.
Sangwon Suh and Byung-Soo Koo assess the effects of unconventional policies in advanced economies on capital flows to emerging markets, and "predict the effects of its normalisation".
The policies influence capital flows "greatly" via cross-border borrowings and bond channels but
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