After a short-lived slowdown in the immediate aftermath of the global financial crisis and a swift rebound, emerging markets (EM) are now entering a period of slower growth. In fact, growth is now lower than the post-crisis peak of 2010-11, as well as the rates seen in the decade before the crisis. This raises the question of whether EMs can bounce back to the growth rates seen in the last decade or whether their prospects are dimmer than thought a few years ago. This SDN we will explore t...

This paper focuses on the types of "capital flow measures" that have been used, why and whether they met their objectives. The paper presents a balanced assessment of this, concluding that they were mostly implemented to protect financial sector stability (focused on specific targets), or to reduce volatility of inflows while not affecting total volumes. The paper also provides cross country case studies, and focuses on the impact of inflows on long term bond yields, interest rates, and wh...