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Inflows of Capital to Developing Countries in the 1990s
Abstract
Half a decade has passed since the resurgence of international capital flows to many developing countries and history has, once again, shown that foreign investment is prone to repeated booms and busts. Mexico's 1994 crisis is but a recent example that highlights the vulnerability of capital-importing countries to abrupt reversals; thus, an aim of policy is to reduce that vulnerability. This paper discusses the principal causes, facts, and policies that have characterized capital inflows to Asia and Latin America. In particular, the authors examine what policies have proved useful in protecting these economies from the vagaries of international capital flow.
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Citations
Cited by
The global capital market: Benefactor or menace?
Obstfeld, M. (1998) · Journal of Economic Perspectives · doi:10.1257/jep.12.4.9 · Cited by 682
Capital Flows to Developing Economies: Implications for Saving and Investment
Bosworth, B. P., Collins, S. M., & Reinhart, C. M. (1999) · Brookings Papers on Economic Activity · doi:10.2307/2534664 · Cited by 580
Self-citationInternational Channels of Transmission of Monetary Policy and the Mundellian Trilemma
Rey, H. (2016) · IMF Economic Review · doi:10.1057/imfer.2016.4 · Cited by 478
Brahmbhatt, M., Canuto, O., & Vostroknutova, E. (2010) · doi:10.1596/10174 · Cited by 74
Metadata
- Authors
- Calvo, G. A., Leiderman, L., & Reinhart, C. M.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 1996-05-01
- Volume
- 10
- Issue
- 2
- Pages
- 123-139
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W2047876229
- Cited by
- 1,095
- References
- 0
- FWCI
- 43.48
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Inflows of Capital to Developing Countries in the 1990s. https://app.cochat.ai/papers/10.1257/jep.10.2.123
- The paper
- Calvo, G. A., Leiderman, L., & Reinhart, C. M. (1996). Inflows of Capital to Developing Countries in the 1990s. Journal of Economic Perspectives. https://doi.org/10.1257/jep.10.2.123
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
