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O Retorno dos Fluxos de Capitais à América Latina na Década de Noventa: Uma Explicação Alternativa à Visão Convencional

Author

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  • Alessandro Maia Pinheiro

    (Universidade Federal do Rio de Janeiro)

Abstract

O presente artigo pretende apresentar uma visão heterodoxa, de inspiração keynesiana, voltada à elucidação dos fatores condicionantes do retorno dos fluxos de capitais à América Latina nos anos noventa. Entende-se que o enfoque tradicional encerra limitações, ao atribuir somente aos fatores internos às nações hospedeiras a responsabilidade pelos ingressos de recursos externos. A dinâmica subjacente às economias centrais e as características do mercado financeiro atual desempenham papel crucial na determinação do montante e perfil dos investimentos estrangeiros. Em face da vulnerabilidade externa que cinge as economias latino-americanas, os controles de capitais se revelam como alternativa importante para atenuar a elevada volatilidade de preços e taxas nestas nações, contribuindo para mitigar os desequilíbrios nas contas externas.

Suggested Citation

  • Alessandro Maia Pinheiro, 2008. "O Retorno dos Fluxos de Capitais à América Latina na Década de Noventa: Uma Explicação Alternativa à Visão Convencional," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 9(3), pages 519-544.
  • Handle: RePEc:anp:econom:v:9:y:2008:i:3:519-544
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    Keywords

    Finanças Internacionais; Fluxos de Capitais; Visão Keynesiana; Visão Ortodoxa;

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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