2  BIS central bankers’ speeches  The long term trend in capital flows indicates that the peaks in capital flows are often followed by sudden fall. In the 2000s, net capital flows to EDEs peaked to 4 per cent of their GDP just before the global financial crisis in 2008 (Chart 2).
Determinants of capital flows The factors explaining international capital flows are categorized into “push” factors that are external to an economy, and “pull” factors that are internal to an economy.