Managing Capital Inflows in Latin America

Abstract

Abstract Towards the end of the 1980s, private capital inflows began to return to Latin America (see Calvo, Leiderman and Reinhart 1993; French-Davis and Griffith-:Jones 1995; and Ocampo 1994). Undoubtedly welcome, the reversal of the drought in capital inflows of the 1980s has relieved the binding foreign exchange constraint under which most countries laboured during the debt crisis. But both the magnitude of the new capital flows and their composition have caused problems for which the recipient countries have by and large been ill prepared.

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