Reinhart, Carmen and Calvo, Sara (1996): Capital Flows to Latin America: Is There Evidence of Contagion Effects?”. Published in: in Guillermo A. Calvo, Morris Goldstein, Eduard Hochreiter, eds. Private Capital Flows to Emerging Markets After the Mexican Crisis (Washington, DC: Institute for International Economics, 1996), : pp. 151-171.
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The issue of "spillover or contagion" effects has acquired renewed importance in light of the Mexican crisis in December 1994 and the effect that this event has had on other emerging market economies. Relatively little empirical analysis exists on how small open economies are affected by economic developments in their neighbors and what role financial markets play in the transmission of disturbances. This paper attempts to fill that gap by examining recent developments in emerging equity markets in Asia and Latin America and longer term trends and cycles in capital flows to Latin American economies and their sensitivity to events in the larger countries in the region.
|Item Type:||MPRA Paper|
|Original Title:||Capital Flows to Latin America: Is There Evidence of Contagion Effects?”|
|Subjects:||F - International Economics > F3 - International Finance|
|Depositing User:||Carmen Reinhart|
|Date Deposited:||13. Feb 2008 09:19|
|Last Modified:||11. Feb 2013 19:34|