Capital Flows to Latin America: Is There Evidence of Contagion Effects?”
AbstractThe issue of "spillover or contagion" effects has acquired renewed importance in light of the Mexican crisis in December 1994 and the effect that this event has had on other emerging market economies. Relatively little empirical analysis exists on how small open economies are affected by economic developments in their neighbors and what role financial markets play in the transmission of disturbances. This paper attempts to fill that gap by examining recent developments in emerging equity markets in Asia and Latin America and longer term trends and cycles in capital flows to Latin American economies and their sensitivity to events in the larger countries in the region.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 7124.
Date of creation: 1996
Date of revision:
Other versions of this item:
- Carmen M. Reinhart & Sara Calvo, 1996. "Capital Flows to Latin America: Is There Evidence of Contagion Effects?," Peterson Institute Press: Chapters, in: Guillermo A. Calvo & Morris Goldstein & Eduard Hochreiter (ed.), Private Capital Flows to Emerging Markets After the Mexican Crisis, pages 151-171 Peterson Institute for International Economics.
- Calvo, Sara & Reinhart, Carmen, 1996. "Capital flows to Latin America : Is there evidence of contagion effects?," Policy Research Working Paper Series 1619, The World Bank.
- F3 - International Economics - - International Finance
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.:
- Michael P. Dooley, 1988. "Capital Flight: A Response to Differences in Financial Risks," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 422-436, September.
- Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1994.
"The capital inflows problem: Concepts and issues,"
13902, University Library of Munich, Germany.
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