A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's
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2014
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oai-11362-52002020-03-06T16:50:27Z A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's Titelman Kardonsky, Daniel Vera, Cecilia CAPITAL MOVIMIENTOS DE CAPITAL TIPOS DE CAMBIO POLITICA MONETARIA SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL CAPITAL MOVEMENTS FOREIGN EXCHANGE RATES MONETARY POLICY MONETARY SYSTEMS FINANCIAL RESOURCES Incluye Bibliografía Financial integration among countries entails a series of well-known benefits. On the one hand, net inflows of external savings can complement national savings within an economy and therefore raise productive investment and income. On the other hand, capital mobility provides opportunities for portfolio diversification and risk sharing between countries and this may enable investors-both firms and households of particular countries- to achieve higher risk-adjusted rates of return. This in turn could encourage increases in savings and investment and therefore deliver faster rates of growth (Eichengreen and Mussa, 1998). Despite these benefits however, there is also a growing consensus that the opening of the capital account has contributed to economic volatility, especially in emerging economies. Financial integration has frequently led these economies to "import" external financial instability, given the highly volatile nature international financial markets and the strong association between the cycles of capital flows and those of domestic economic activity (Ffrench-Davis, 2007). Hence, for developing countries, capital account volatility has become one of the major sources of real macroeconomic instability (Ocampo, 2008). In what refers to Latin America, private capital flows have indeed been a lasting source of economic instability due to their highly pro-cyclical nature (Figure 1). Moreover, according to Ffrench-Davis (2007) the transmission of financial volatility into the region has been a key factor behind its poor economic and social performance since the early 1990's. 2014-01-02T15:43:50Z 2014-01-02T15:43:50Z 2009-12 Texto Documento Completo 9789213233658 http://hdl.handle.net/11362/5200 LC/L.3145-P en Serie Financiamiento del Desarrollo 221 application/pdf CHILE COLOMBIA CHILE COLOMBIA ECLAC |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
CAPITAL MOVIMIENTOS DE CAPITAL TIPOS DE CAMBIO POLITICA MONETARIA SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL CAPITAL MOVEMENTS FOREIGN EXCHANGE RATES MONETARY POLICY MONETARY SYSTEMS FINANCIAL RESOURCES |
| spellingShingle |
CAPITAL MOVIMIENTOS DE CAPITAL TIPOS DE CAMBIO POLITICA MONETARIA SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL CAPITAL MOVEMENTS FOREIGN EXCHANGE RATES MONETARY POLICY MONETARY SYSTEMS FINANCIAL RESOURCES Titelman Kardonsky, Daniel Vera, Cecilia A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| description |
Incluye Bibliografía |
| format |
Texto |
| author |
Titelman Kardonsky, Daniel Vera, Cecilia |
| author_facet |
Titelman Kardonsky, Daniel Vera, Cecilia |
| author_sort |
Titelman Kardonsky, Daniel |
| title |
A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| title_short |
A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| title_full |
A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| title_fullStr |
A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| title_full_unstemmed |
A summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990's |
| title_sort |
summary of the experiences of chile and colombia with unremunerated reserve requirements on capital flows during the 1990's |
| publisher |
ECLAC |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/5200 |
| work_keys_str_mv |
AT titelmankardonskydaniel asummaryoftheexperiencesofchileandcolombiawithunremuneratedreserverequirementsoncapitalflowsduringthe1990s AT veracecilia asummaryoftheexperiencesofchileandcolombiawithunremuneratedreserverequirementsoncapitalflowsduringthe1990s AT titelmankardonskydaniel summaryoftheexperiencesofchileandcolombiawithunremuneratedreserverequirementsoncapitalflowsduringthe1990s AT veracecilia summaryoftheexperiencesofchileandcolombiawithunremuneratedreserverequirementsoncapitalflowsduringthe1990s |
| _version_ |
1718442020131831808 |