Reinhart, Carmen and Calvo, Guillermo and Leiderman, Leonardo (1996): Inflows of capital to developing countries in the 1990s. Published in: Journal of Economic Perspectives , Vol. 10, No. 2 (1996): pp. 123-139.
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Half a decade has passed since the resurgence of international capital flows to many developing countries. The recent surge in capital inflows was initially attributed to domestic developments, such as the sound policies and stronger economic performance of a handful of countries. Eventually, it became clear that the phenomenon was widespread, affecting countries with very diverse characteristics. This pattern suggested that global factors, like cyclical movements in interest rates, were especially important. This paper discusses the principal facts, developments and policies that characterize the current episode of capital inflows to Asia and Latin America.
|Item Type:||MPRA Paper|
|Original Title:||Inflows of capital to developing countries in the 1990s|
|Keywords:||capital flows international interest rates monetary policy exchange rates|
|Subjects:||F - International Economics > F2 - International Factor Movements and International Business
F - International Economics > F3 - International Finance
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook
|Depositing User:||Carmen Reinhart|
|Date Deposited:||02. Mar 2009 05:55|
|Last Modified:||11. Feb 2013 20:16|
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