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IMPACT OF THE GLOBAL FINANCIAL CRISIS ON CAPITAL INFLOWS TO DEVELOPING COUNTRIES
Summary

Developing countries have become more closely integrated with the global financial system over the past two decades. The growing integration can bring them many benefits, but it also makes them more sensitive to shocks on global financial markets.

The global financial crisis severely reduced private capital flows to developing countries during 2007–2009. It also has had negative implications for the real economy. The impact of the crisis differed across regions of developing countries, depending on the composition of international flows, maturity structure of capital flows and the current account balance.