The 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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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
7125.
Length: Date of creation: 1993 Date of revision: Publication status: Published in ” IMF Staff Papers 1.40(1993): pp. 108-151 Handle: RePEc:pra:mprapa:7125
Find related papers by JEL classification: F3 - International Economics - - International Finance E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
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