Country Responses to Massive Capital Flows

Manuel F. Montes

No wp-1996-121, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The emergence of a select group of developing countries as destinations for private portfolio investment in the 1990s (and the subsequent peso crisis in Mexico in 1994) has rekindled the old issues about the responsibilities and capacities public authorities have with regard to managing the absorption of these resources. This paper discusses the purposes public authorities might have in resisting these flows and presents a model of how authorities might intervene through their domestic financial system.

Keywords: Capital investments; Economic policy; Foreign investments (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-1996-121

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