Intro -- Preface -- Introduction -- Part I - Early Rumblings -- Introduction to Part I -- 1 Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors - Guillermo A. Calvo, Leonardo Leiderman, and Carmen M. Reinhart -- 2 Capital Inflows to Latin America:...

This paper analyzes the relevance of external factors in average quarterly GDP growth for 1990-2006 in the seven largest Latin American countries (LAC7). Modeling the relationship between LAC7 GDP and several external factors, it is found that those factors account for a significant share of...

We use a panel dataset on industrial employment and trade for 9 Latin American countries for which liability dollarization data at the industrial level is available. We test whether real exchange rate fluctuations have a significant impact on employment, and analyze whether the impact varies...

This paper explores the impact of international financial integration on credit markets in Latin America. Using a cross-country dataset covering 17 Latin American countries between 1996 and 2008, the authors find that financial integration amplifies the impact of international financial shocks...