Capital inflows to Latin America with reference to the Asian experience

Carmen Reinhart, Guillermo Calvo and Leonardo Leiderman

MPRA Paper from University Library of Munich, Germany

Abstract: This essay has four objectives. The first is to document the current episode of capital inflows to Latin America based on data for ten Latin American countries. 6 The second is to compare the Latin American experience with that of a number of Asian countries that have also been the recipients of sizable capital inflows and examine to what extent the nature of the capital inflows and macroeconomic consequences are similar in the two cases. The third is to assess the role of external factors in accounting for the observed capital inflows and the real exchange rate appreciation in Latin America. Last, the chapter discusses the implications of capital inflows for economic policy.

Keywords: capital; flows; real; exchange; rate; international; reserves; reversals; crises (search for similar items in EconPapers)
JEL-codes: F3 F4 (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (29)

Published in Capital Controls, Exchange Rates and Monetary Policy in the World Economy (1995): pp. 339-382

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Related works:
Working Paper: Capital Inflows and Real Exchange Rate Appreciation in Latin America (1992)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13840

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