Economist Martin Feldstein has coined the term "hot money" to pertain to long-term capital flows.

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Harvard economist Martin Feldstein has argued that most of the capital that moves internationally is pursuing temporary gains, and it shifts in and out of countries as quickly as conditions change. He distinguishes between this short-term capital, or "hot money," and "patient money" that would support long-term cross-border capital flows.

Economist Martin Feldstein Has Coined the Term "Hot Money" to Pertain