Last edited by Mazunris
Monday, July 20, 2020 | History

2 edition of Capital inflows into Latin America found in the catalog.

Capital inflows into Latin America

Sebastian Edwards

Capital inflows into Latin America

a stop-go story?

by Sebastian Edwards

  • 237 Want to read
  • 26 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Capital movements -- Latin America.,
  • Investments, Foreign -- Latin America.,
  • Monetary policy -- Latin America.

  • Edition Notes

    StatementSebastian Edwards.
    SeriesNBER working paper series -- working paper 6441, Working paper series (National Bureau of Economic Research) -- working paper no. 6441.
    ContributionsNational Bureau of Economic Research.
    Classifications
    LC ClassificationsHB1 .W654 no. 6441
    The Physical Object
    Pagination67 p. :
    Number of Pages67
    ID Numbers
    Open LibraryOL22403620M

    Since , capital has flowed from industrial countries to developing regions like Latin America and parts of Asia. Most countries welcome reentry into international capital markets. Capital flows play a large role in policy setting in Latin America and other emerging market economies, and are a key source of vulnerability. A key issue is their volatility: Graph 1 shows that following a period of inflows, bank and portfolio inflows to Latin America reversed.

    Emerging-market capital inflows dramatically declined in response to the rapid spread of the coronavirus (COVID). Latin American countries—Mexico, and to a certain extent Colombia and Brazil— have improved reserve adequacy. If the fall in capital inflows into emerging markets continues, these countries could face a sudden stop.   Capital Flows and FDI in Latin America and the Caribbean. In the specific case of Latin America, on a yearly basis, the Economic Community of Latin America and the Caribbean (CELAC) along with the United Nations publish a joint report of Foreign Direct Investment (FDI) in the region.

    Trends in U.S. Financial Flows to Latin America since In , private-sector net capital flows from the United States to Latin America (excluding the Caribbean financial centers) were about. The UN Economic Commission for Latin America and the Caribbean, which predicts a fall of %, thinks the number of poor people will rise from m to m (in a total population of m.


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Capital inflows into Latin America by Sebastian Edwards Download PDF EPUB FB2

Kuczynski, P. () ‘International Capital Flows into Latin America: What is the Promise?’ (Presented at the World Bank Annual Conference on Development Economics, Washington, DC Cited by: Capital Flows to 1 Latin America 1. Sebastian Edwards 2. Francisco Gil Diaz 3. Arminio Fraga 1.

Sebastian Edwards Capital Inflows into Latin America: A Stop-Go Story. Introduction During the late s and early s the vast majority of the Latin Ameri- can countries embarked on ambitious reforms aimed at modernizing their by: Table 1 presents a breakdown of Latin America’s balance of payments into three main accounts.

The capital inflows appear as surpluses in the capital account: about $24 billion in and about $40 billion in A substantial fraction of the Capital inflows into Latin America book has been channelled to reserves, which increased by about $33 billion in – Get this from a library.

Managing capital inflows in Latin America. [Manuel Agosin; Ricardo Ffrench-Davis] -- "This paper discusses the recent foreign capital surge in four countries of Latin America -- Brazil, Chile, Colombia and Mexico -- and their governments' policy responses to the surge." (p.

Capital Inflows to Latin America: The 's and the 's Forthcoming in Development, Trade afzd the Environment. 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 by: Latin America has vast experience with boom-and-bust cycles driven by capital inflows that culminated in debt and financial crises with severe economic and social costs.

Partly influenced by these experiences, the IMF has recently warned about the potential dangers of capital inflows to Latin America. very large part of total inflows into the region. While it generated a quarter of the output of Latin America and the Caribbean, Mexico absorbed over 50% of the capital inflows to the region in the period.

Argentina had also been a very important recipient of capital in the early 90's with levels of over 4% of GOP. The characteristics 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, increasing the macroeconomic vulnerability of.

The IIF Capital Flows Tracker includes all of our current portfolio flows data (previously included in our Portfolio Flows Tracker) as well as the broader net capital flow estimates. It is released near the end of each month, and both data sets (portfolio flows and net capital flows) are available for download below.

In addition to capital inflows, the currencies of many Latin American countries were also lifted by the Chinese demand-induced commodities boom. That pushed their balance of payments into surplus and forced central banks to accumulate significant foreign- exchange (FX) reserves, which have nearly doubled over the past five years.

This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent authors―leading economists and political scientists―examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical s: 3.

"Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol.

40(1), pagesMarch. Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, " Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol.

40(1), pagesMarch. Leonardo Leiderman & Carmen Reinhart & Guillermo Calvo, Latin America appears better prepared to handle capital outflows than in the past. F &s; D magazine looks at the impact that the inflow of capital from overseas has had on the economy across Latin America. I won't profess any specific knowledge of this topic.

However, the successful nations of Asia have rather high saving rates and don't need capital inflows (quite to the contrary). The fact that Latin America is still badly dependent on capital inflows is one more sign or how week Latin America is (economically, politically, etc.).

The characteristics of recent capital inflows into Latin America are dis-cussed. It is argued that these inflows are partly explained by conditions outside the region, like the recession in the United States and lower inter-national interest rates.

The importance of external factors suggests that a. America and Asia has been the difference in composition of those flows, with Latin America attracting on the whole more volatile flows and Asia attracting more permanent flows (see Table 1).

Table 1: Composition of Capital Flows. Asia and Latin America (%) Latin America Asia Latin America Asia FDI Portfolio.

Additional Physical Format: Online version: Edwards, Sebastian, Capital inflows into Latin America. Cambridge, MA: National Bureau of Economic Research, © Capital Inflow Surges in Emerging Economies: How Worried Should Latin America and the Caribbean Be.

Andrew Powell (bio) and Pilar Tavella (bio) In the years leading up to the global economic crisis, Latin America and the Caribbean received large capital inflows. For the first time since the onset of the debt crisis in the slimmer orcapital began to return to Latin America during and In general, Latin America's re-entry into the international capital markets was perceived as a positive development.

However, policy-makers in the region have also voiced concern about the less favourable side-effects of these capital inflows.Capital inflows are not an unmitigated blessing for the receiving region or country; in fact, they may pose serious dilemmas for economic policy. Large capital inflows are often associated with money and credit expansion, inflationary pressures, a real exchange rate appreciation, and a deterioration in the current account of the balance of payments.

Many countries in the region have accumulated reserves as they leaned against sustained capital inflows. In some cases, those reserves were also deployed at times of depreciation pressures. Figure 13 is taken from a forthcoming book that documents the Latin American experience with FX intervention.

The book finds that.