Analytical Note, July 2008

Capital flows from South to North: a new dynamic in global economic relations.

This Analytical Note looks at the new dynamic of capital flows from the South to the North arising from unprecedented levels of capital reserve accumulation by the South.

It looks at some of the reasons for such capital accumulation – pointing to the perceived need by developing countries to self-insure themselves against financial crises.

It then looks at various ways in which financial crises could be prevented by developing countries and concludes by stressing the need for this new dynamic to be reflected in both international economic arrangements and in terms of ensuring that developmental gains by developing countries are obtained.

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