Capital Inflows and Real Exchange Rate Appreciation in Latin America

The characteristfcs of recent capital inflows into Latin America are discussed. It is argued that these inflows are partly explained by conditions outside the region, like recession in the United States and lower international interest rates. This suggests the possibility that a reversal of those conditions may lead to a future capital outflow, fncreasing the macroeconomic vulnerability of Latin American economies. Policy options are argued to be lfmited.

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Year of publication:	1992
Authors:	Reinhart, Carmen ; Calvo, Guillermo ; Leiderman, Leonardo

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Reinhart, Carmen and Calvo, Guillermo and Leiderman, Leonardo (1992): Capital Inflows and Real Exchange Rate Appreciation in Latin America. Published in: IMF Staff Papers , Vol. 40, No. 1 (March 1993): pp. 108-151.
Classification:	F42 - International Policy Coordination and Transmission ; F32 - Current Account Adjustment; Short-Term Capital Movements ; F41 - Open Economy Macroeconomics ; F31 - Foreign Exchange
Source:	BASE

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