Capital Flows to Latin America: Is There Evidence of Contagion Effects?”
Carmen Reinhart () and
MPRA Paper from University Library of Munich, Germany
The issue of "spillover or contagion" effects has acquired renewed importance in light of the Mexican crisis in December 1994 and the effect that this event has had on other emerging market economies. Relatively little empirical analysis exists on how small open economies are affected by economic developments in their neighbors and what role financial markets play in the transmission of disturbances. This paper attempts to fill that gap by examining recent developments in emerging equity markets in Asia and Latin America and longer term trends and cycles in capital flows to Latin American economies and their sensitivity to events in the larger countries in the region.
JEL-codes: F3 (search for similar items in EconPapers)
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Chapter: Capital Flows to Latin America: Is There Evidence of Contagion Effects? (1996)
Working Paper: Capital flows to Latin America: Is there evidence of contagion effects? (1996)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:7124
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