Determinants and Contagion in Private Capital Flows: Preliminary Evidence From the 1970s and 1990s

24 Pages Posted: 27 Aug 2008

See all articles by Leonardo Hernandez

Leonardo Hernandez

Central Bank of Chile

Pamela Mellado

Ministry of Finance - Chile

Rodrigo Valdes

Independent

Date Written: June 3, 2002

Abstract

This paper studies the determinants of private capital flows to developing countries during the last two episodes of large inflows, the late 1970searly 1980s and the 1990s. The paper also tests for contagion effects in capital flows among recipient countries, and tries to identify specific channels through which such effects can occur. It tests for neighborhood effects, trade-related effects, and for contagion based on the countries having similar macroeconomic indicators. The results show strong evidence for the first two effects during the 1990s, and indicate that the third effect varies depending on the type of capital flow.

Suggested Citation

Hernandez, Leonardo and Mellado, Pamela and Valdes, Rodrigo, Determinants and Contagion in Private Capital Flows: Preliminary Evidence From the 1970s and 1990s (June 3, 2002). Revista de Analisis Economico, Vol. 17, No. 1, 2002, Available at SSRN: https://ssrn.com/abstract=1255313

Leonardo Hernandez (Contact Author)

Central Bank of Chile

Agustinas 1180
Santiago
Chile

Pamela Mellado

Ministry of Finance - Chile ( email )

Teatinos 120
Santiago, 8340487
Chile

Rodrigo Valdes

Independent ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
42
Abstract Views
1,310
PlumX Metrics