International Finance, Liability Flows a

This course explores the benefits and risks of international financial flows, with a focus on the economic stability of emerging markets and non-major developed economies. Students will examine the drivers and implications of cross-border liability flows, consider the perspectives of local and global policymakers, and analyze how capital movements shape national debt dynamics and financial resilience. Drawing on theory, current research, and real-world cases, the course covers topics such as exchange rate regimes, uncovered interest parity, financial crises, capital flow management, and the effects of monetary tightening in major economies. Readings include academic work and institutional analyses from the IMF, BIS, and World Bank.