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Capital Inflows and Real Exchange Rate Appreciation in Latin America
Mr.Guillermo CalvoMs.Carmen ReinhartMr.Leonardo Leiderman
其他書名
The Role of External Factors
出版International Monetary Fund, 1992-08-01
主題Business & Economics / Exports & ImportsBusiness & Economics / Foreign ExchangeBusiness & Economics / Banks & Banking
ISBN14519644559781451964455
URLhttp://books.google.com.hk/books?id=lI4YEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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 Latin American economies. Policy options are argued to be limited.