El problema de la afluencia de capital: Conceptos y temas
[The Capital Inflows Problem: Concepts and Issues]
Since 1990 capital has flowed from industrial countries to developing regions like Latin America, and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary pressures, a real exchange rate appreciation, a deterioration in the current account, and a boom in bank lending. This paper briefly examines how these inflows have altered the macroeconomic environment in a number of Asian and Latin American countries. The pros and cons of the policy options are discussed.
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- Mohamed A. El-Erian, 1992. "Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience," IMF Staff Papers, Palgrave Macmillan, vol. 39(1), pages 175-194, March.
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- Guillermo Calvo & Carlos A. VÃ©gh Gramont, 1992. "Currency Substitution in Developing Countries: An Introduction," IMF Working Papers 92/40, International Monetary Fund.
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IMF Occasional Papers
103, International Monetary Fund.
- Donald J. Mathieson & Liliana Rojas-SuÃ¡rez, 1992. "Liberalization of the Capital Account: Experiences and Issues," IMF Working Papers 92/46, International Monetary Fund.
- Reinhart, Carmen & Leiderman, Leonardo, 1994. "Capital inflows to Latin America," MPRA Paper 13406, University Library of Munich, Germany.
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