… of the renewal of capital flows to Latin America results from external factors and can be
considered an external shock common to the region. We argue that falling interest rates, a con…

… -- to Latin America has been the result of two basic forces: first… These authors argue that
cyclical external factors have been … the real exchange rate appreciation -- of capital inflow surges…

… of appreciation of the real exchange rate in Latin America where the importance of these
flows in total capital inflow … Are there some region-specific factors (rooted in the macroeconomic …

… America has been the result of two basic forces. First, … These authors argue that cyclical
external factors have been … particular the real exchange rate appreciation-of capital inflow surges…

… capital inflows into Latin America are discussed. It is argued that these inflows are partly
explained by conditions outside … States and lower international interest rates. This suggests the …

… in Asia and Latin America have experienced an … real exchange rate appreciation. This
phenomenon was more pronounced in Latin America than in Asia, 2 as a result of various factors. …

… to determinate factors that drive real exchanges rate in the … , foreign capital flows and the de
facto nominal exchange regime… fixed regime tends to appreciate the real exchange rate. This …

… how the exchange rate and capital flows impact the output. … capital flows, output, and price
environment in a timely fashion, … in Latin America issue almost all of their securities in foreign …

… capital inflows by intervening in foreign exchange markets to prevent an excess supply from
unduly appreciating the real exchange rate … short-term factors influencing the exchange rate …

… as well as international factors, we take … appreciation) in preference to the level in order to
eliminate the apparently nonstationary trending behaviour exhibited by some Latin American …