Macroeconomics of Capital Flows to Latin America: Experience and Policy Issues

Michael Gavin, Ricardo Hausmann and Leonardo Leiderman

No 4012, Research Department Publications from Inter-American Development Bank, Research Department

Abstract: This paper reviews recent experience with international capital flows in Latin America, and discusses the policy issues that surround them. The paper is predicated on three basic premises. Capital flows to the region are an important source of macroeconomic disturbance. Also, capital flows are very volatile. Large fluctuations in these flows are due in substantial part to factors external to Latin America. In addition, the fluctuations require a policy response. Policy should respond to sudden inflows or outflows of capital.

Date: 1995-10
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Citations: View citations in EconPapers (39)

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Working Paper: The Macroeconomics of Capital Flows to Latin America: Experience and Policy Issues (1995)
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