What drives non-financial private sector capital outflows in Latin America?

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cepal.articleNo4
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2024/11-P
cepal.docTypeRevistas
cepal.jelCodeF30
cepal.jelCodeF36
cepal.jelCodeF40
cepal.jelCodeF44
cepal.jobNumber04perez_REV-144E
cepal.physicalDescriptiongráficos, tablas.
cepal.regionalOfficeSantiago
cepal.sdg17
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFINANCING FOR DEVELOPMENT
cepal.topicEngMACROECONOMICS
cepal.topicEngINVESTMENT
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.topicSpaFINANCIAMIENTO PARA EL DESARROLLO
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaINVERSIÓN
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorPérez Artica, Rodrigo
dc.contributor.authorRabinovich, Joel
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2025-06-09T14:55:03Z
dc.date.available2025-06-09T14:55:03Z
dc.date.issued2024-12
dc.description.abstractWe analyse gross non-financial private sector capital outflows from six large Latin American economies over the past three decades. While considerable attention has recently been devoted to corporate capital inflows into emerging markets, the accumulation of foreign assets by the non-financial private sector in these countries has been overlooked. The omission is surprising, given that residents’ outflows contribute considerably to the financial account balance and thus to the external financial vulnerability of the region. Moreover, although there are considerable differences between countries, we find that, in general, these outflows are (i) highly correlated with the global financial cycle; (ii) positively related to capital inflows and the current account balance, implying that they grow with higher foreign exchange availability; and (iii) seemingly unaffected by changes in domestic asset risk.
dc.formatTexto
dc.format.extentpáginas 55-75
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2024/11-P
dc.identifier.urihttps://hdl.handle.net/11362/81707
dc.language.isoeng
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo144
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecord¿Qué factores impulsan las salidas de capital del sector privado no financiero en América Latina?
dc.relation.translationUrihttps://hdl.handle.net/11362/81226
dc.rights.coarDisponible
dc.subject.unbisEngCAPITAL
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngFINANCIAL RESOURCES
dc.subject.unbisEngFINANCIAL FLOWS
dc.subject.unbisEngBUSINESS CYCLES
dc.subject.unbisEngCORPORATIONS
dc.subject.unbisEngPRIVATE SECTOR
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisSpaCAPITAL
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaRECURSOS FINANCIEROS
dc.subject.unbisSpaCORRIENTES FINANCIERAS
dc.subject.unbisSpaCICLOS ECONOMICOS
dc.subject.unbisSpaSOCIEDADES
dc.subject.unbisSpaSECTOR PRIVADO
dc.subject.unbisSpaMACROECONOMIA
dc.titleWhat drives non-financial private sector capital outflows in Latin America?
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication8bebc453-0400-49e0-ac4d-8466c2fb6dee
relation.isAuthorOfPublication7c26b006-3718-4db4-a5d3-76aa84b107d1
relation.isAuthorOfPublication.latestForDiscovery8bebc453-0400-49e0-ac4d-8466c2fb6dee
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