This is where the Centre for International Governance Innovation’s contribution continues to be particularly vital. Today, I would like to focus on one aspect of globalization: international capital mobility. I’ll start by opening up some basic questions associated with capital mobility and then review key trends in capital flows over the past few decades.
As an illustration of this, even in 2001, at the low point in the interest rate cycle, a relatively high proportion of households in this part of Sydney had high debtservice ratios. 8  BIS Review 49/2009  •  Third, a disproportionately large share of the housing loans in this region was sourced from non-bank lenders.