Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors
AbstractThe characteriscs of recent capital inflows to Latin America are discussed. It is argued that these inflows are partially explained by economic conditions outside the region, like the recession in the United States and lower international interest rstes. The importance of external factors suggests that a reeversal in those condiitons may lead to a future capital outflow, increasing the macroeconomic vulnerability on Latin American economies. Policy options, it is argued, are limited.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 92/62.
Date of creation: 01 Aug 1992
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Postal: International Monetary Fund, Washington, DC USA
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Other versions of this item:
- Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 108-151, March.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1993. "“Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," MPRA Paper 7125, University Library of Munich, Germany.
- G1 - Financial Economics - - General Financial Markets
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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by AdriÃ¡n Ravier in Punto de Vista Economico on 2013-08-16 03:57:52
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