During the past two years Latin America has received sizable international capital inflows. This paper compares the recent experience with that of the late 1970s. The analysis examines differences and similarities between the two episodes in three broad areas: domestic macroeconomic conditions...

During the 1990s a number of developing countries have introduced a variety of measures designed to curb capital inflows. Many of these measures were either used countercyclically, announced as temporary, or de facto became so because agents found means to circumvent the restrictions. This paper...