Inflows of capital to developing countries in the 1990s
AbstractHalf a decade has passed since the resurgence of international capital flows to many developing countries. The recent surge in capital inflows was initially attributed to domestic developments, such as the sound policies and stronger economic performance of a handful of countries. Eventually, it became clear that the phenomenon was widespread, affecting countries with very diverse characteristics. This pattern suggested that global factors, like cyclical movements in interest rates, were especially important. This paper discusses the principal facts, developments and policies that characterize the current episode of capital inflows to Asia and Latin America.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 13707.
Date of creation: 1996
Date of revision:
Publication status: Published in Journal of Economic Perspectives 2.10(1996): pp. 123-139
capital flows international interest rates monetary policy exchange rates;
Other versions of this item:
- Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1996. "Inflows of Capital to Developing Countries in the 1990s," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 10(2), pages 123-139, Spring.
- F2 - International Economics - - International Factor Movements and International Business
- F3 - International Economics - - International Finance
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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