Large Capital Flows : A Survey of the Causes, Consequences, and Policy Responses

Author/Editor:

Alejandro Lopez Mejia

Publication Date:

February 1, 1999

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper reviews the causes, consequences, and policy responses to large capital flows in several emerging markets. It opens by studying recent patterns of capital flows, and then discusses the causes of capital flows. Emphasis is given to the reasons behind the capital inflow episode in the 1990s, the major reversals, and the volatility observed in these flows. The paper goes on to examine the consequences of capital inflows and the pros and cons of alternative policy responses. It concludes with policy lessons derived from country experiences.

Series:

Working Paper No. 99/17

Subject:

English

Publication Date:

February 1, 1999

ISBN/ISSN:

9781451843514/1018-5941

Stock No:

WPIEA0171999

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

54

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