Investors withdrew $ 40 billion from the EM in the third quarter of this year.This is the maximum rate since 2008 - based on AMarkets.
Quarterly capital outflow in the last three quarters of 2008 amounted to 105 billion dollars - the data from the Institute of International Finance. Current outflow of investment money was held against the backdrop of slowing in China, falling commodity prices and expectations of the Fed raising rates USA. ZIRP regime has always been favoring investment in riskier assets with higher incomes.
If ZIRP will not risky assets in developing countries will automatically be unpopular and too dangerous. 19 billion dollars from 40 billion outflow accounted for shares of 21 billion dollars - on debt instruments. The outflow was proportional for all three months of the quarter.