Capital Inflows into Latin America: A Stop-Go Story? / Sebastian Edwards.

Format:

Book

Author/Creator:

Edwards, Sebastian.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w6441.

NBER working paper series no. w6441

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Capital Inflows into Latin America

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1998.

Summary:

This paper deals with Latin America's experience with capital flows during the last decade and a half. It concentrates on a number of issues of increasing interest among academics and international observers, including the effect of capital inflows on domestic savings, the way in which capital mobility affects the ability to engage in independent monetary policy, and the effectiveness of capital controls. It also addresses a number of policy dilemmas that have become topical in light of the recent East Asian currency crises, including questions related to capital account sustainability, the role of domestic banks in the intermediation of capital inflows, and the feasibility of fixed nominal exchange rates in a world of capital mobility. Latin America's experience with capital mobility should provide insights to scholars interested in other regions of the world. Indeed, during the last few years the Latin American countries have been a laboratory of sorts, where almost every possible approach towards capital mobility has been tried.

Notes:

Print version record

March 1998.