Determinants and Repercussions of the Composition of Capital Inflows

  title={Determinants and Repercussions of the Composition of Capital Inflows},
  author={Mark Carlson and L. Hernandez},
The Mexican, Asian, and Russian crises of the midand 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… CONTINUE READING

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