Most other advanced and emerging economies followed, chiefly in the 1980s and early 1990s. An exception to this trend was Malaysia, which in 1998 imposed capital controls in the wake of the 1997 Asian Financial Crisis. While most Asian economies didn't impose controls, after the 1997 crises they ceased to be net importers of capital and became net exporters instead. Large inbound flows were directed "uphill" from emerging economies to the US and other developed nations. According to economist C. Fred Bergsten the large inbound flow into the US was one of the causes of the financial crisis of 2007-2008. By the second half of 2009, low interest rates and other aspects of the government led response to the global crises had resulted in increased movement of capital back towards emerging economies. In November 2009 the Financial Times reported several emerging economies such as Brazil and India have begun to implement or at least signal the possible adoption of capital controls to reduce the flow of foreign capital into their economies. See also Balance of payments Capital good Net capital outflow Notes and references Balance of payments International macroeconomics International trade it:Conto dei movimenti di capitale