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Capital inflows to Latin America

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Author Info
Reinhart, Carmen
Leiderman, Leonardo

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Abstract

Capital inflows are not an unmitigated blessing for the receiving region or country; in fact, they may pose serious dilemmas for economic policy. Large capital inflows are often associated with money and credit expansion, inflationary pressures, a real exchange rate appreciation, and a deterioration in the current account of the balance of payments. In addition, the history of Latin America provides ample evidence that massive capital inflows may also have strong impacts on the stock market, the real estate market, and the money market-impacts which may well threaten tbe stability of these markets and of the financial system as a whole.

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File URL: http://mpra.ub.uni-muenchen.de/13406/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13406.

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Date of creation: 1994
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Handle: RePEc:pra:mprapa:13406

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Related research
Keywords: capital inflows exchange rate policy reserves capital controls;

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Find related papers by JEL classification:
F20 - International Economics - - International Factor Movements and International Business - - - General
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
F31 - International Economics - - International Finance - - - Foreign Exchange

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.:

  1. Michael Mussa & Morris Goldstein, 1993. "The Integration of World Capital Markets," IMF Working Papers 93/95, International Monetary Fund.
  2. Guillermo Calvo & Carmen Reinhart & Leonardo Leiderman, 1993. "The Capital Inflows Problem: Concepts and Issues," IMF Policy Discussion Papers 93/10, International Monetary Fund.
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  3. Michael Mussa & Morris Goldstein, 1993. "The integration of world capital markets," Proceedings, Federal Reserve Bank of Kansas City, pages 245-330.
  4. Calvo, Guillermo A & Leiderman, Leonardo, 1993. "The Capital Inflows Problem: Concepts and Issues," IMF Papers on Policy Analysis and Assessments 93/10, International Monetary Fund.
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