Volatility of the Capital Flows and Structural Breaks in Latin America and the Caribbean

Fernando Andrés Delblanco and Andrés Fioriti
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Fernando Andrés Delblanco: Universidad Nacional del Sur
Andrés Fioriti: Universidad Nacional del Sur

Económica, 2012, vol. LVIII, 23-51

Abstract: This paper studies the presence of structural breaks in the capital flows of sixteen economies of Latin America using the unit test root by Zivot and Andrews (1992). It is complemented by the structural breaks test by Bai Perron (1998). Afterwards, an analysis of the likelihood of contemporaneity between the breaks found and the crises the countries had suffered in the last forty years is presented. These crises were either of currency, banking, domestic and external debt type. Many cases of contemporaneity were found, especially with the crises that occurred at the end of the 90s.

Keywords: structural breaks; volatility; capital flows; crises; contemporaneity (search for similar items in EconPapers)
JEL-codes: C10 G01 N26 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:akh:journl:581

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