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Flujos de capitales y política fiscal en las economías emergentes de América Latina

In: Flujos de capitales, choques externos y respuestas de política en países emergentes

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  • Lozano-Espitia, Luis Ignacio
  • Melo-Becerra, Ligia Alba
  • Ramos-Forero, Jorge Enrique

Abstract

Se evalúa la respuesta de la política fiscal ante los choques de los flujos de capital registrados durante las dos últimas décadas en seis economías emergentes de América Latina: Argentina, Brasil, Chile, Colombia, México y Perú, durante el período 1991-2009.

Suggested Citation

  • Lozano-Espitia, Luis Ignacio & Melo-Becerra, Ligia Alba & Ramos-Forero, Jorge Enrique, 2013. "Flujos de capitales y política fiscal en las economías emergentes de América Latina," Chapters,in: Rincón-Castro, Hernán & Velasco, Andrés M. (ed.), Flujos de capitales, choques externos y respuestas de política en países emergentes, chapter 13, pages 533-563 Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:bdrcap:2013-09-533-563
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    References listed on IDEAS

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    1. Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Formulating a Policy Response: Reply to Snowden," IMF Staff Papers, Palgrave Macmillan, vol. 40(4), pages 868-870, December.
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    3. Tornell, Aaron & Velasco, Andres, 2000. "Fixed versus flexible exchange rates: Which provides more fiscal discipline?," Journal of Monetary Economics, Elsevier, vol. 45(2), pages 399-436, April.
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    5. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Végh, 2005. "When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Chapters,in: NBER Macroeconomics Annual 2004, Volume 19, pages 11-82 National Bureau of Economic Research, Inc.
    6. Cook, David & Devereux, Michael B., 2006. "Capital inflows, fiscal discretion, and exchange rate policy," European Economic Review, Elsevier, vol. 50(8), pages 1975-1992, November.
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    Cited by:

    1. Rhenals Monterrosa, Remberto & Gómez, Wilman, 2013. "La coyuntura macroeconómica reciente," PERFIL DE COYUNTURA ECONÓMICA, UNIVERSIDAD DE ANTIOQUIA - CIE, issue 22, pages 9-38, July.
    2. Álvaro José Anaya Mendoza, 2012. "Inversión extranjera directa y crecimiento económico. Evidencia para América Latina 1980-2010," REVISTA DE ECONOMÍA DEL CARIBE 010850, UNIVERSIDAD DEL NORTE.
    3. Melo-Becerra & Ramos-Forero & Hector Zárate-Solano, 2015. "Sovereign bond markets and financial stability in an emerging economy: an application of directed acyclic graphs and SVAR models," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 8(3), pages 306-319, November.
    4. Ramos-Forero, Jorge Enrique & Melo-Becerra, Ligia Alba & Zárate-Solano, Hector Manuel, 2015. "Mercado de bonos soberanos y estabilidad financiera : una aplicación de gráficos acíclicos direccionados (GAD) y modelos SVAR," Chapters,in: Gómez-González, José Eduardo & Ojeda-Joya, Jair N. (ed.), Política monetaria y estabilidad financiera en economías pequeñas y abiertas, chapter 14, pages 443-463 Banco de la Republica de Colombia.

    More about this item

    Keywords

    Crisis financiera; Cambio exterior; Capital; Deuda; Tasas de interés; Financial crisis; Foreign exchange; Capital; Debt; Interest rates;

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General

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