C.P. Chandrasekhar and Jayati Ghosh — Capital Bleeds from Emerging Asia

Everyone knows that 2015 was a terrible year for emerging markets – but exactly how bad it was has become clear only recently. Not only was it an annus horribilis in terms of net exports of goods and services, which declined sharply and even turned negative for some previously buoyant exporters, but it was also a time when capital flows reversed course. The downturns in both indicators have been much more widespread and substantial than they were initially expected to be, and even greater than mid-year assessments suggested.…

Naked Capitalism
Capital Bleeds from Emerging Asia
C.P. Chandrasekhar, Professor of Economics, Jawaharlal Nehru University, New Delhi; and Jayati Ghosh, Professor of Economics and Chairperson at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi