Dealing with capital inflows: Are there any lessons?

Carmen Reinhart and Steve Dunnaway

MPRA Paper from University Library of Munich, Germany

Abstract: We have now witnessed more than half a decade of relatively heavy capital inflows to a large group of highly heterogeneous developing countries and economies in transition in Asia, Eastern Europe, the Former Soviet Union, Latin America, and parts of Africa and the Middle East--we have also witnessed the broad range of policy responses that these inflows have elicited. In light of this, the aim of this paper is threefold: first, we take stock of which countries implemented which policies; second, we attempt to assess to what extent the policies achieved their intended objectives; lastly, we draw lessons about which policies appear to have been the most successful tool in coping with surging capital inflows, with emphasis on the "policy mix" and how they interact.

Keywords: capital; inflows; capital; controls; reserve; requirements; exchange; rate; policy; sterilized; intervention (search for similar items in EconPapers)
JEL-codes: E5 E6 F3 (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (19)

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Related works:
Working Paper: The Consequences and Management of Capital Inflows: Lessons for Sub-Saharan Africa (1999)
Working Paper: Some Lessons for Policy Makers Who Deal with the Mixed Blessing of Capital Inflows (1998)
Working Paper: Dealing with Capital Inflows. Are There Any Lessons? (1996)
Working Paper: Dealing with Capital Inflows Are There Any Lessons?
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13764

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