IMF paper finds foreign investor base crucial for EM sensitivity to shocks
Working paper encourages EMs to collect information on foreign investors
Sound fundamentals are not guaranteed to insulate emerging market (EM) economies from global financial shocks, according to research published by the International Monetary Fund, which attributes the difference in sensitivity of capital flows to '"global push factors" largely to market characteristics.
In the working paper Push factors and capital flows to emerging markets: why knowing your lender matters more than fundamentals, Eugenio Cerutti, Stijn Claessens and Damien Puy analyse the
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