New from the Financial Markets Center: Capital Flows Monitor: Second Quarter 2002 Recent rallies in emerging equity markets reflect investor confidence in a U.S. recovery leading the rest of the world to revived economic growth. But developing countries remain net lenders to the international banking system, serious financial imbalances persist in industrial economies and expectations of a robust global recovery may be premature. Jane D'Arista's Capital Flows Monitor assesses recent developments in international banking, bond and derivatives markets and includes links to referenced BIS and IMF reports. http://www.fmcenter.org/pdf/capflows042602.pdf
