Determinants of Private Capital Flows in the 1970's and 1990's Is there Evidence of Contagion?

This paper studies the determinants of private capital flows to developing countries during the last two episodes of large inflows, the late 1970s-early 1980s and the 1990s. The paper also tests for contagion effects in capital flows among recipient countries, and tries to identify specific channels...

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Bibliographic Details
Main Author: Valdes, Rodrigo
Other Authors: Hernández, Leonardo, Melado, Pamela
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2001
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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260 |a Washington, D.C.  |b International Monetary Fund  |c 2001 
300 |a 26 pages 
651 4 |a Brazil 
653 |a Investments, Foreign 
653 |a Finance 
653 |a Private capital flows 
653 |a Balance of payments 
653 |a Long-term Capital Movements 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a International economics 
653 |a International Financial Markets 
653 |a Capital flows 
653 |a International Finance: General 
653 |a International trade 
653 |a Capital inflows 
653 |a Exports 
653 |a Capital movements 
653 |a Macroeconomic Aspects of International Trade and Finance: General 
653 |a International Investment 
653 |a Foreign direct investment 
700 1 |a Hernández, Leonardo 
700 1 |a Melado, Pamela 
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520 |a This paper studies the determinants of private capital flows to developing countries during the last two episodes of large inflows, the late 1970s-early 1980s and the 1990s. The paper also tests for contagion effects in capital flows among recipient countries, and tries to identify specific channels through which such effects can occur. It tests for neighborhood effects, trade-related effects, and for contagion based on the countries having similar macroeconomic indicators. The results show strong evidence for the first two effects during the 1990s, and indicate that the third effect varies depending on the type of capital flow