Обложка книги International Capital Flows (Conference Report (National Bureau of Economic Research).)

International Capital Flows (Conference Report (National Bureau of Economic Research).)

ISBN: 0226241041; 9780226241043;
Издательство: University of Chicago Press

Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal...

Похожие книги:

Martin Feldstein
International Capital Flows
In recent years, the Federal Reserve and central banks …
In the late 1990s, economic and financial crises raged …