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Conference Paper
Managing capital flows and exchange rates, perspectives from the Pacific Basin. Essays originally prepared for a conference sponsored by the Center for Pacific Basin Monetary and Economic Studies at the Federal Reserve Bank of San Francisco, held Sept. 26-27, 1996
Glick, Reuven (1996)
Proceedings

Report
A theoretical analysis of capital flight from debtor nations
Charrette, Susan M. (1991)
Research Paper , Paper 9113

Working Paper
Capital inflows, financial intermediation, and aggregate demand.
Kamin, Steven B.; Wood, Paul R. (1997)
In trying to explain the balance-of-payments and banking crises of 1994-95 that erupted in Mexico, observers have pointed to various effects of the substantial capital inflows that took place in the preceding half decade. It has been argued that these inflows contributed to rapid monetary growth, real appreciation of the peso, and the widening of Mexico's current account deficit. In addition, by making available credit for consumption loans at a time when investment spending in Mexico was not yet ready to grow rapidly, these inflows may have contributed to the fall in Mexico's savings rate. ; ...
International Finance Discussion Papers , Paper 583

Working Paper
Speculative capital inflows and exchange rate targeting in the Pacific Basin
Kletzer, Kenneth M.; Spiegel, Mark M. (1996)
This paper studies the process of capital inflow management and speculative inflows for countries pursuing the joint goals of monetary and exchange rate management. We introduce a sticky-price model with imperfect asset substitutability in which a central bank engages in costly sterilization to mitigate the influence of capital inflows on its policy targets. The costs of sterilization, often referred to as "quasi-fiscal costs" in the literature, reflect the loss experienced by the central bank by holding foreign securities whose nominal yields are inferior to those paid on domestic bonds. ...
Pacific Basin Working Paper Series , Paper 96-05

Working Paper
Explaining the global pattern of current account imbalances
Kamin, Steven B.; Gruber, Joseph W. (2005)
This paper assesses some of the explanations that have been put forward for the global pattern of current account imbalances that has emerged in recent years: in particular, the large U.S. current account deficit and the large surpluses of the Asian developing economies. Based on the approach developed by Chinn and Prasad (2003), we use data for 61 countries during 1982-2003 to estimate panel regression models for the ratio of the current account balance to GDP. We find that a model that includes as its explanatory variables the standard determinants of current accounts proposed in the ...
International Finance Discussion Papers , Paper 846

Journal Article
Capital in and out of China
Fu, Dong (2000-03)
Southwest Economy , Issue Mar , Pages 10, 12

Report
Capital flows & current account deficits in the 1990s: why did Latin America & East Asian countries respond differently?
Antzoulatos, Angelos A. (1996)
The return of private capital to highly indebted less-developed countries (LDCs) in the late 1980s was accompanied by widening current account deficits in the recipient countries, which were primarily attributed to a consumption boom in Latin America and an investment surge in East Asia. Interpreting the return as an increase in the external debt ceiling, the maximum amount that can be borrowed, this paper analyzes and compares the different response of the two regions using the conceptual framework of a borrowing-constrained agent. According to it, an increase in the debt ceiling can reduce ...
Research Paper , Paper 9610

Conference Paper
Capital inflows and the real exchange rate: analytical framework and econometric evidence
Agenor, Pierre-Richard; Hoffmaister, Alexander W. (1996)
Proceedings

Journal Article
U.S. international transactions in 1988
Meade, Ellen E.; Hooper, Peter (1989-05)
Federal Reserve Bulletin , Issue May

Working Paper
Capital controls during financial crises: the case of Malaysia and Thailand
Reinhart, Carmen M.; Edison, Hali J. (2000)
This study examines the impact capital controls had in Malaysia (1998-1999) and Thailand (1997). We aim to assess the extent to which the capital controls were effective in delivering the outcomes that motivated their imposition. We conclude that in Thailand the controls did not deliver much of what was intended--although, one does not observe the counterfactual. By contrast, in the case of Malaysia the controls did align closely with the priors of what controls are intended to achieve: greater interest rate and exchange rate stability and more policy autonomy.
International Finance Discussion Papers , Paper 662

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