El problema de la afluencia de capital: Conceptos y temas

The Capital Inflows Problem: Concepts and Issues

Carmen Reinhart, Guillermo Calvo and Leonardo Leiderman

MPRA Paper from University Library of Munich, Germany

Abstract: Since 1990 capital has flowed from industrial countries to developing regions like Latin America, and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary pressures, a real exchange rate appreciation, a deterioration in the current account, and a boom in bank lending. This paper briefly examines how these inflows have altered the macroeconomic environment in a number of Asian and Latin American countries. The pros and cons of the policy options are discussed.

Keywords: flujos; de; capital; volatilidad; tipo; de; cambio; reservas; internacionales; Asia; America; Latina (search for similar items in EconPapers)
JEL-codes: E5 F3 F4 (search for similar items in EconPapers)
Date: 1993
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Published in Afluencia de Capitales y Estabilización en América Latina (1995): pp. 1-24

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Related works:
Journal Article: THE CAPITAL INFLOWS PROBLEM: CONCEPTS AND ISSUES (1994)
Working Paper: The capital inflows problem: Concepts and issues (1994)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13682

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