Foreign capital inflows and macroeconomic policies

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(53/94)
cepal.docTypeRevistas
cepal.idSade19990
dc.contributor.authorTitelman Kardonsky, Daniel
dc.contributor.authorUthoff, Andras
dc.coverage.spatialEngARGENTINA
dc.coverage.spatialEngCHILE
dc.coverage.spatialEngCOLOMBIA
dc.coverage.spatialEngMEXICO
dc.coverage.spatialSpaARGENTINA
dc.coverage.spatialSpaCHILE
dc.coverage.spatialSpaCOLOMBIA
dc.coverage.spatialSpaMEXICO
dc.date.accessioned2014-01-02T18:41:10Z
dc.date.available2014-01-02T18:41:10Z
dc.date.issued1994-08
dc.descriptionIncludes bibliography
dc.description.abstractIn recent years, a number of countries of the region have gained renewed access to international financial markets, thus passing abruptly from a situation of relative scarcity of external resources to one of abundance. This situation has given rise to considerable pressures on certain key variables of their economies, especially the real exchange rate and interest rates. In previous articles in CEPAL Review, the effects of opening-up of the capital account on monetary, exchange rate and stabilization policies have been analysed. The present article considers the dilemma faced by the economic authorities when they try to simultaneously achieve ongoing capital inflows, stability of the economic aggregates, a competitive exchange rate, and a stronger savings and investment process. An analysis is made of the experiences of Argentina, Chile, Colombia and Mexico in this respect, with their economic policy profiles distinguished according to three alternative options for intervention: in the foreign exchange market, in the monetary market, and in the capital market. It is argued that in view of the degree of volatility and uncertainty of external capital flows, policy instruments in these areas should be aimed at obviating the diversion of key prices from their medium- and long-term trends in response to short-term forces.
dc.formatTexto
dc.format.extentpáginas. 13-29
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.1832-P
dc.identifier.urihttps://hdl.handle.net/11362/10489
dc.language.isoeng
dc.physicalDescriptionp. 13-29
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo53
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngFOREIGN EXCHANGE MARKETS
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngINTEREST RATES
dc.subject.unbisEngUNCERTAINTY
dc.subject.unbisSpaINCERTIDUMBRE
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaMERCADOS DE DIVISAS
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaTASAS DE INTERES
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.titleForeign capital inflows and macroeconomic policies
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublicationf5b207ee-2594-4b8d-9c43-9d8a97a48f77
relation.isAuthorOfPublication54c8a15c-d38e-4fe0-a2f0-04a0128d0b86
relation.isAuthorOfPublication.latestForDiscoveryf5b207ee-2594-4b8d-9c43-9d8a97a48f77
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