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

Article Abstract:

The proposition that capital inflows are influenced by the capital control policies of capital-importing nations are examined in the context of the inflows which were channeled to Asia and Latin America in the 1990s. During this period, Asia attracted significantly more foreign direct investment than Latin America and the latter received more 'hot money.' However, the 1997 Asian financial crisis revealed the region's dependence on short-term capital. There is evidence that capital controls are able to sway the configuration of inflows but not their volume. Sterilized intervention can determine volume and composition, diverting flows to short-term maturities.

Analysis, Foreign investments, Economic policy, Capital market, Capital markets

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International capital mobility - a note

Article Abstract:

International capital mobility studies cannot compare foreign balance to domestic indicators to show a country's degree of internationalization because domestic and foreign indicators differ in evaluation standards. Furthermore, a country's total net foreign assets and liabilities are composed of different items, such as gold and reserves. Finally, domestic and foreign stocks are derived by different methods.

Evaluation, International aspects, Economic indicators

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International risk sharing and capital mobility: reply

Article Abstract:

Corrections were made on a paper concerning international risk sharing and capital mobility. Explanations are given concerning the misinterpretation of the data which resulted in the faulty conclusions.

Models, Risk (Economics), Consumption (Economics)

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