Managing Surges in Capital Inflows: The Philippines Case
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.
|Date of creation:||1994|
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- Claessens, S. & Gooptu, S., 1993. "Portfolio Investment in Developing Countries," World Bank - Discussion Papers 228, World Bank.
- Donald J. Mathieson & Liliana Rojas-SuÃ¡rez, 1992.
"Liberalization of the Capital Account; Experiences and Issues,"
IMF Working Papers
92/46, International Monetary Fund.
- Liliana Rojas-SuÃ¡rez & Donald J. Mathieson, 1993. "Liberalization of the Capital Account; Experiences and Issues," IMF Occasional Papers 103, International Monetary Fund.
- Robert Brandon Kahn & Adam Bennett & MarÃa Vicenta Carkovic S. & Susan Schadler, 1993. "Recent Experiences with Surges in Capital Inflows," IMF Occasional Papers 108, International Monetary Fund.
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