Capital flows to developing economies: Implications for saving, investment, and growth (a comment)

Reinhart, Carmen (1999): Capital flows to developing economies: Implications for saving, investment, and growth (a comment). Published in: Brookings Papers on Economic Activity No. 1 (June 1999): pp. 170-176.

Abstract

Comment: This paper by Barry Bosworth and Susan Collins is a welcome contribution to the capital flows literature in that it investigates whether there are important behavioral differences across types of flows and their effects on economic activity, saving, and investment. Previous studies examining the links between growth and capital flows had largely ignored distinctions among the different types of flows, despite evidence of very different characteristics as regards volatility.

• Item Type: MPRA Paper
• Language: English
• Keywords: Capital flows external factors volatility investment
• Subjects: F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance; F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies

References

Calvo, Guillermo A., Leonardo Leiderman, and Carmen M. Reinhart, “Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors,” IMF Staff Papers, Vol. 40 No. 1, March 1993, 108-151.

Dooley, Michael, Eduardo Fernandez-Arias, and Kenneth Kletzer, “Recent Private Capital Inflows to Developing Countries: Is the Debt Crisis History?, World Bank Economic Review 10(1), January 1996, 27-49.

Kaminsky, Graciela L. and Carmen M. Reinhart, “The Twin Crises: The Causes of Banking and Balance of Payments Problems,” American Economic Review, Vol. 89 No. 3, June 1999, 473–500.