Capital flows in and out of Latin America: the other face of the restructuration of the central economics

The Latin American economies have faced very different scenarios regardingtheir access to external financial resources. Scarcity of funds during the 1950s, a substantialincrease in the supply of financial flows by private international banks during the 1970s,and again a stage of restrictive conditions since 1982. The work looks at the external causesthat made possible these different situations linking them to the particular conditions takingplace in the developed countries. For example, the stagnation of industrial growth that tookplace in these countries during the 1970s and the external deficit showed by the US economycan help to explain the expansion in the supply of funds available to Third World countriesduring that decade. On the other hand, the changes showed by the US economy since theend 1970s can also help to explain the deep changes in the supply of funds available to LatinAmerica. Some references to the future are also attempted. JEL Classification: F34; H63.