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Working Paper 99 - Capital Flows and Capital Account Liberalisation in the Post-Financial-Crisis Era: Challenges, Opportunities and Policy Responses
There is already a plethora of good papers on the possible causes and trend dynamics of the current global financial crisis. There is also much heated debate among academics, policy makers and the general public about the size and possible efficacy of the bail-out packages that the USA and UK governments, among other OECD governments, have put in place to abate the velocity and longevity of the crisis. This paper departs from the aforementioned stream of work and debate. It seeks to invoke a flow-offunds approach to analyze the complexity of the financial crisis and its implications for capital flows and capital account liberalisation in the post-financial crisis era in Africa.