Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses
IMF Working Papers, February 1, 1999
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- Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses
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Bibliographic details
- Authors: Alejandro Lopez Mejia
- Published: February 1, 1999
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451843514.001
Summary / Abstract
- Reviews the causes, consequences, and policy responses to large capital flows in several emerging markets.
- Structure of the paper:
- Studies recent patterns of capital flows.
- Discusses the causes of capital flows, with emphasis on the reasons behind the capital inflow episode in the 1990s, major reversals, and the volatility observed in these flows.
- Examines the consequences of capital inflows and the pros and cons of alternative policy responses.
- Concludes with policy lessons derived from country experiences.
Major Themes — Causes of Capital Flows
- Emphasis on:
- Reasons behind the capital inflow episode in the 1990s.
- Major reversals in capital flows.
- Volatility observed in these flows.
Major Themes — Consequences of Capital Inflows
- Examines:
- Economic and financial consequences in emerging markets.
- Effects on real exchange rates and balance of payments.
- Interactions with domestic financial systems and stabilization programs.
Major Themes — Policy Responses and Policy Lessons
- Discusses:
- Pros and cons of alternative policy responses to large capital inflows.
- Policy lessons derived from country experiences.
Subjects and Keywords (as listed)
- Subject: Balance of payments, Capital controls, Capital flows, Capital inflows, Foreign exchange, Private capital flows, Real exchange rates
- Keywords: adverse selection, Asia and Pacific, balance of payments, capital control, Capital controls, capital flow, Capital Flows, Capital inflows, capital net, capitalization rate, Crises, current account, Eastern Europe, financial system, Global, Middle East, mobility consist, net capital, open economy, Policy Responses, Private capital flows, Real exchange rates, stabilization program, Survey, Western Hemisphere, WP
Source: Alejandro Lopez Mejia, "Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses", IMF Working Papers 1999, 017 (1999), February 1, 1999, https://www.imf.org/en/publications/wp/issues/2016/12/30/large-capital-flows-a-survey-of-the-causes-consequences-and-policy-responses-2891
Content in this bundle
- Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses - WP/99/17