Capital Flows in the APEC Region

Carmen Reinhart and Mohsin Khan

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the current episode of capital inflows to several Asian economies, summarizing the principal facts, the impact of the inflows, and policy options.25 The discussion also covers, when relevant, the similar experiences of Latin American countries, with an emphasis on the policy priorities that could ensure the persistence and sustainability of these flows, as far as possible. The analysis draws heavily on previous work by Calvo, Leiderman, and Reinhart (1993, 1994, and forthcoming, 1995), who used data for ten Latin American countries and eight Asian countries, as well as other recent studies undertaken in the IMF. The first part of this section describes the main characteristics and macroeconomic consequences of capital inflows to the Asian region. The second part discusses the role of external factors in the present inflows episode, as well as the likely factors that will determine the sustainability of these capital inflows. Finally, the relative merits of various policy responses to the surge in capital inflows are discussed.

JEL-codes: E44 F31 F32 (search for similar items in EconPapers)
Date: 1995-03
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Citations: View citations in EconPapers (103)

Published in IMF Occasional Paper 122, (Washington DC: International Monetary Fund, April 1995). (1995): pp. 1-17

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Related works:
Working Paper: Capital Flows in the APEC Region (1995)
Working Paper: Macroeconomic Management in APEC Economies: The Response to Capital Inflows (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:8200

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