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Private Capital Flows and Development

The Role of National and International Policies

image of Private Capital Flows and Development

This paper considers the new forms and roles of private capital flows to developing countries in the 1990s and appropriate national and international policy responses to the problems and possibilities they create. Section 2 describes the growth of these flows in the 1990s, their role in development and some of their effects in recipient countries. Section 3 considers alternate capital account policies for developing countries. In section 4 the possibility of improved international arrangements is considered. Section 5 contains recommendations from the previous analysis.

English

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Foreword

This paper by Professor G. Helleiner was presented to the Commonwealth Finance Ministers at their meeting in Bermuda in September 1996. It contains a rich discussion of recent trends in private capital flows and their impact on economic development with particular focus on problems related to the volatility of capital movements. In analysing these issues, Professor Helleiner brings to the discussion the experiences of a number of East Asian and Latin American countries that have been successful in coping with surges of capital inflows.

English

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