Country risk and capital flow reversals

Assaf Razin*, Efraim Sadka

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

7 Scopus citations


A financial crisis with a capital flow reversal occurs when a country shifts abruptly from a 'good' equilibrium with a low country-specific risk premium to a 'bad' equilibrium with a high country-specific risk premium and no foreign credit.

Original languageEnglish
Pages (from-to)73-77
Number of pages5
JournalEconomics Letters
Issue number1
StatePublished - Jul 2001


  • Capital flow reversals
  • Country risk
  • F3


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