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Controls on Short-Term Capital Inflows - The Latin American Experience and Lessons for DMCs

dc.contributor.authorPradumna B Rana
dc.date.accessioned2015-03-18T12:23:49Z
dc.date.available2015-03-18T12:23:49Z
dc.date.issued1998-09-15
dc.identifier.urihttp://hdl.handle.net/11540/2629
dc.description.abstractThis paper has the following objectives. First, it attempts to identify the differences between short-term capital (hot money) and long-term capital. Second, it reviews the expe¬riences of the Latin American countries, namely, Chile and Colombia, which have imposed controls on capital in the form of unremunerated deposits. Large and excessive amounts of short-term capital inflows were an important contributory factor to the East Asian financial crisis. An important lesson from the crisis is that the composition of foreign capital deserves as much attention as its over-all level (Appendix I). Correcting the policy mistakes that led to the surges in short-term private capital flows is, therefore, an obvious way of discouraging such inflows. In addition, this paper determines whether there is a role for direct controls on short-term capital. Third, based on the Latin American experience, the paper derives lessons for the DMCs, both the affected and the unaffected, on how to avoid large surges of short-term capital.
dc.languageEnglish
dc.publisherAsian Development Bank
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.titleControls on Short-Term Capital Inflows - The Latin American Experience and Lessons for DMCs
dc.typeBriefs
dc.subject.expertFinancial Stability
dc.subject.expertFinancial Management System
dc.subject.expertFinancial Restructuring
dc.subject.expertCapital Market Development
dc.subject.expertErosion
dc.subject.expertMarket Development
dc.subject.expertEconomics
dc.subject.expertErosion
dc.subject.expertInternational Economics
dc.subject.adbInternational Financial Market
dc.subject.adbMultilateral Financial Institutions
dc.subject.adbEconomic Recession
dc.subject.adbMarket
dc.subject.adbCrisis
dc.subject.naturalBusiness recessions
dc.subject.naturalMultilateral development banks
dc.subject.naturalRegulatory reform
dc.subject.naturalCapital
dc.title.seriesEDRC Briefing Notes
dc.title.volume2
dc.contributor.imprintAsian Development Bank
oar.themeFinance
oar.themeEconomics
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-002942
oar.authorRana, Pradumna B
oar.importtrue
oar.googlescholar.linkpresenttrue


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