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This analysis does not mean that cross-border flows of capital should be severely stifled, much less eliminated entirely. But within the category of foreign capital, some types pose greater risks than others, much as certain kinds of cholesterol are beneficial for the heart while others clog the arteries. In the "good cholesterol" capital
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Like many other small European countries, it borrowed money very cheaply from abroad and paid very high interest rates on foreign deposits. Icelanders could borrow Japanese yen for close to 0 percent, and they paid foreign investors very high rates. For instance, Kaupthing Bank’s (an Icelandic bank) Isle of Man subsidiary offered 7.15 percent on on
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Falling Barriers to Entry in Fintech.docx
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the ability of portfolio investors to move money unfettered across national borders is a matter of controversy among economists, much more so than is the freedom of trade in goods. With regard to this aspect of global capitalism, the Argentine crisis underlines the need for major repair. It points inexorably to the conclusion that government effort
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