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Managing Surges in Capital Inflows: The Philippine Case

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  • Lamberte, Mario B. Author_Email:

Abstract

The Philippines is one of the countries in Southeast Asia that has experienced massive capital inflows. Being a latecomer in this arena, it can avoid the undesirable effects of these inflows by drawing lessons from the experiences of Latin American and other Asian countries. This paper provides a background and characteristics of capital inflows to developing countries and discusses the issues associated with it. Analysis shows that full sterilization deprives the country of higher investment and growth associated with foreign exchange inflows. This article has been published as a 1994 PIDS discussion paper.

Suggested Citation

  • Lamberte, Mario B. Author_Email:, 1995. "Managing Surges in Capital Inflows: The Philippine Case," Philippine Journal of Development, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:pjdevt:jpd_1995_vol__xxii_no__1-b
    DOI: https://doi.org/10.62986/pjd1995.22.1b
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    File URL: https://www.pids.gov.ph/publication/philippine-journal-of-development/managing-surges-in-capital-inflows-the-philippine-case
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    References listed on IDEAS

    as
    1. Mr. Donald J Mathieson & Ms. Liliana Rojas-Suárez, 1992. "Liberalization of the Capital Account: Experiences and Issues," IMF Working Papers 1992/046, International Monetary Fund.
    2. Mr. Robert Brandon Kahn & Mr. Adam Bennett & Ms. María Vicenta Carkovic S. & Ms. Susan M Schadler, 1993. "Recent Experiences with Surges in Capital Inflows," IMF Occasional Papers 1993/010, International Monetary Fund.
    3. Gooptu, Sudarshan, 1993. "Portfolio investment flows to emerging markets," Policy Research Working Paper Series 1117, The World Bank.
    4. Vittorio Corbo & Leonardo Hernández, "undated". "Macroeconomic Adjustment to Capital Inflows: Rational and Some Recent Experiences," Documentos de Trabajo 164, Instituto de Economia. Pontificia Universidad Católica de Chile..
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    Cited by:

    1. Josef T. Yap, 2010. "Managing Capital Flows: The Case of the Philippines," Chapters, in: Masahiro Kawai & Mario B. Lamberte (ed.), Managing Capital Flows, chapter 13, Edward Elgar Publishing.
    2. David, Cristina C. Author_Email:, 1999. "Constraints to Food Security: The Philippine Case," Philippine Journal of Development, Philippine Institute for Development Studies.
    3. Mercado, Rogelio, 2020. "Are capital inflows expansionary or contractionary in the Philippines?," Journal of Asian Economics, Elsevier, vol. 67(C).
    4. Lamberte, Mario B., 1999. "Currency Crisis: Where Do We Go From Here?," Discussion Papers DP 1999-10, Philippine Institute for Development Studies.
    5. David, Cristina C., 1999. "Constraints to Food Security: The Philippine Case," Discussion Papers DP 1999-31, Philippine Institute for Development Studies.
    6. David, Cristina C., 1998. "Towards an Efficient Path to Food Security: The Philippine Case," Discussion Papers DP 1998-39, Philippine Institute for Development Studies.
    7. Josef T. Yap, 2008. "Managing Capital Flows : The Case of the Philippines," Development Economics Working Papers 22703, East Asian Bureau of Economic Research.
    8. Cororaton, Caesar B., 1997. "Exchange Rate Movements in the Philippines," Discussion Papers DP 1997-05, Philippine Institute for Development Studies.

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