Do capital controls and macroeconomic policies influence the volume and composition of capital flows? Evidence from the 1990s

Journal of International Money and Finance - Tập 18 Số 4 - Trang 619-635 - 1999
Peter J. Montiel1, Carmen Reinhart2
1Williams College, Williamstown, MA 01267 USA
2University of Maryland, School of Public Affairs and Department of Economics, College Park, MD 20742, USA

Tóm tắt

Từ khóa


Tài liệu tham khảo

Calvo, 1993, Capital inflows to Latin America: the role of external factors, International Monetary Fund Staff Papers, 40, 108, 10.2307/3867379

Calvo, G.A., Leiderman, L., Reinhart, C.M., 1994a. Capital inflows to Latin America: the 1970s and 1990s. In: Bacha, E. (Ed.), Development Trade and the Environment, vol. 4. Economics in a Changing World. MacMillan Press, London, pp. 123–148.

Calvo, 1994, The capital inflows problem: concepts and issues, Contemporary Economic Policy, 12, 55, 10.1111/j.1465-7287.1994.tb00434.x

Calvo, S., Reinhart, C.M., 1996. Capital flows to Latin America: is there evidence of contagion effects?. In: Calvo, G., Goldstein M., Hochreiter, E. (Eds), Private Capital Flows to Emerging Markets After the Mexican Crisis. Institute for International Economics, Washington DC, pp. 151–171.

Cardoso, 1998, Capital Flows to Brazil: The Endogeneity of Capital Controls, International Monetary Fund Staff Papers, 45, 161, 10.2307/3867333

Chuhan, P., Claessens, S., Mamingi, N., 1996. Equity and bond flows to Latin America and Asia: the role global and country factors. World Bank, IECIF Policy Research Working Paper 1160.

Claessens, S., Dooley, M., Warner, A., 1993. Capital inflows: hot or cold? In: Claessens, S., Gooptu S. (Eds.), Portfolio Investment in Developing Countries. World Bank, Washington, DC.

Corbo, 1996, Macroeconomic adjustment to capital inflows; lessons from recent Latin American and East Asian experiences, World Bank Research Observer, 11, 61, 10.1093/wbro/11.1.61

Dooley, 1996, Is the debt crisis history? recent private capital, The World Bank Economic Review, 10, 27, 10.1093/wber/10.1.27

Fernandez-Arias, 1996, The new wave of private capital inflows: push or pull?, Journal of Development Economics, 48, 389, 10.1016/0304-3878(95)00041-0

Fernandez-Arias, 1996, The surge in capital inflows to developing countries: an overview, The World Bank Economic Review, 10, 51, 10.1093/wber/10.1.51

Hernandez, L., Rudolph, H., 1995. Sustainability of private capital flows to developing countries: is a generalized reversal likely? World Bank Working Paper Series 1518.

International Finance Corporation, 1997. Emerging Stock Markets Factbook. International Finance Corporation, Washington, DC.

Kaminsky, 1998, Financial crises in Latin America: then and now, American Economic Review, 88, 444

Montiel, P.J., 1996. Managing economic policy in the face of large capital inflows: what have we learned?. In: Calvo, G., Goldstein, M., Hochreiter, E. (Eds.), Private Capital Flows to Emerging Markets After the Mexican Crisis. Institute for International Economics, Washington DC, pp. 189–218.

Reinhart, 1999, On the use of reserve requirements to deal with the capital flow problem, International Journal of Finance and Economics, 4, 27, 10.1002/(SICI)1099-1158(199901)4:1<27::AID-IJFE92>3.0.CO;2-T

Reinhart, C.M., Reinhart, V.R., 1998. Some lessons for policy makers who deal with the mixed blessing of capital inflows. In: Kahler, M. (Ed.), Capital Flows and Financial Crises. Cornell University Press, NY, pp. 93–127.

Reinhart, C.M., Smith, R.T., 1998. Too much of a good thing: the macroeconomic effects of taxing capital inflows. In: Glick, R. (Ed.), Managing Capital Flows and Exchange Rates: Perspectives from the Pacific Basin. Cambridge University Press, Cambridge, pp. 436–464.

Sarno, L., Taylor, M.P., 1999. The persistence of capital inflows and the behavior of stock prices in East Asian emerging markets: some empirical evidence. Journal of International Money and Finance 18 (4), forthcoming.

World Bank, 1997. Private Capital Flows to Developing Countries: The Role to Financial Integration. Oxford University Press, Oxford.