• Andrés Fernández Martin
  • Drivers of Capital Flows to Emerging Markets
  • Andrés Fernández Martin GSNB'07'10
  • Event Date: 2023-04-27 12:00
  • Scarlet Speakers from the Heart of New Brunswick

Andrés Fernández Martin GSNB’07’10 is the Senior Financial Expert at the IMF’s Capital Flow Unit, in the Monetary and Capital Markets (MCM) Dpt. His research focuses mainly on open economy macroeconomics with an emphasis on emerging market economies. Previously, he was head of the Research Department at the Central Bank of Chile, between 2019 and 2022; Senior Economist at the Research Department of the Inter-American Development Bank (IDB) in Washington D.C. between 2012 and 2019, and assistant professor at U. de Los Andes (Bogotá) between 2010 and 2011. I hold a Ph.D. in Economics from Rutgers University since 2010.

This talk will be about on-going work studying the main drivers of capital flows to Emerging Market economies (EMs), motivated by the recent episode of large capital outflows amid sharp monetary policy tightening in the US. Supply and demand factors driving capital flows to and from EMs, as well as global versus country-specific shocks are analyzed. Global supply forces are central drivers, shaping the yields and --to a lesser extent-- the volume of flows. The US monetary policy stance is one of their forces behind these drivers.  

 

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