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Ocampo et al. note that capital inflows can have a positive effect in the short run during periods of booming capital inflows, but a negative effect in the long run. del Valle and Ugolini provide an overview of the policy framework and building blocs for reform that are necessary to develop a government bond market. As Das puts it, global trade in goods and services has expanded many-fold, benefiting many new dynamic developing-country traders. (pp. 124–128)

ANDREI CRISTEA
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