The Real Effects of Capital Inflows on Emerging Markets

Robert Dekle (), Cheng Hsiao and Siyan Wang
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Siyan Wang: Department of Economics, University of Southern California, Los Angeles, CA, USA

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2001, vol. 04, issue 02, 165-202

Abstract: We employ vector autoregression and cointegration estimation to examine the impact of net capital inflows on real exchange rates, output and real interest rates in several East Asian and Latin American economies during the 1990s. We find that increases in net capital inflows leads to appreciations of the real exchange rates in all the countries but have no impact on real output except for Thailand.

Keywords: Capital Flow; Output; Exchange Rate; Vector Autoregression (search for similar items in EconPapers)
JEL-codes: G1 G2 G3 (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1142/S0219091501000413

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