Advanced Search
MyIDEAS: Login to save this article or follow this journal

Salidas súbitas de capital en mercados emergentes: ¿cómo minimizar el impacto sobre la economía real?

Contents:

Author Info

  • José Osler Alzate Mahecha

    ()

Registered author(s):

    Abstract

    Desde comienzos de la década de los noventa, los flujos de capital hacia los mercados emergentes crecieron a niveles históricamente altos. Sin embargo, varios países sufrieron una reversión rápida e inesperada en los flujos de capital. Además, dichas reversiones afectaron de manera simultánea a países con características diferentes. Basándose en los episodios de salidas súbitas de capital que ocurrieron a partir de los años noventa, el presente trabajo busca evaluar de manera empírica qué características y políticas pueden ayudar a minimizar el costo de una de estas crisis sobre el producto interno bruto (pib). Se encuentra que los países con bajo nivel de endeudamiento externo y que llevaron a cabo una política fiscal contracíclica y una venta de reservas para contrarrestar la devaluación tuvieron una crisis menos costosa. En cambio, el grado de exportaciones de una economía y los cambios en la tasa de intervención del Banco Central no son estadísticamente significativos.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://economia.uniandes.edu.co/revistadys/67/05_Salidas_subitas.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by UNIVERSIDAD DE LOS ANDES-CEDE in its journal REVISTA DESARROLLO Y SOCIEDAD.

    Volume (Year): (2011)
    Issue (Month): ()
    Pages:

    as in new window
    Handle: RePEc:col:000090:008906

    Contact details of provider:

    Related research

    Keywords: salidas súbitas de capital; mercados emergentes; costos sobre el pib; política contracíclica.;

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Valerie Cerra & Sweta C. Saxena, 2005. "Growth Dynamics: The Myth of Economic Recovery," Macroeconomics 0508008, EconWPA.
    2. Guillermo A. Calvo & Alejandro Izquierdo & Luis-Fernando Mejia, 2004. "On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects," NBER Working Papers 10520, National Bureau of Economic Research, Inc.
    3. Ricardo J. Caballero & Mohamad L. Hammour, 1991. "The Cleansing Effect of Recessions," NBER Working Papers 3922, National Bureau of Economic Research, Inc.
    4. Guillermo A. Calvo, 2006. "Monetary Policy Challenges in Emerging Markets: Sudden Stop, Liability Dollarization, and Lender of Last Resort," IDB Publications 6841, Inter-American Development Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:col:000090:008906. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Universidad De Los Andes-Cede).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.