Capital flows are 'fickle' and always have been, paper finds

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A new IMF working paper claims to show that capital flow volatility is no worse now than before the "unprecedented financial globalisation of recent years". Rather, it is a fact of life that affects emerging markets more than their advanced counterparts.

The well-timed paper, Capital flows are fickle: anytime, anywhere by John Bluedorn, Rupa Duttagupta, Jaime Guajardo and Petia Topalova, finds that "private capital flows are typically volatile for all countries, advanced or emerging, across all

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