Home About Latest Browse RSS Advanced Search

Board of Governors of the Federal Reserve System (U.S.)
International Finance Discussion Papers
Determinants and repercussions of the composition of capital inflows
Mark A. Carlson
Leonardo Hernandez
Abstract

The Mexican, Asian, and Russian crises of the mid- and late 1990s have renewed the interest among policymakers in the determinants and effects of private capital flows. This paper analyzes whether policies can affect the composition of capital inflows and whether different compositions aggravate crises. We find that, while fundamentals matter, capital controls can affect the mix of capital inflows that countries receive. We find that during the Asian crisis countries with more Yen denominated debt faired worse, while during the Mexican crisis larger short-term debt stocks increased the severity of the crisis.


Download Full text
Download Full text
Cite this item
Mark A. Carlson & Leonardo Hernandez, Determinants and repercussions of the composition of capital inflows, Board of Governors of the Federal Reserve System (U.S.), International Finance Discussion Papers 717, 2002.
More from this series
JEL Classification:
Subject headings:
Keywords: Capital movements ; Financial crises - Asia ; Financial crises - Mexico
For corrections, contact Ryan Wolfslayer ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal