Abstract
The main feature of the new economic model (NEM) in Latin America is its outward orientation through both trade and capital account liberalisation. The opening of the capital account, accompanied — or often preceded — by domestic capital market liberalisation (see Chapter 5), creates the pre-conditions for large capital flows from abroad. These flows will then take place if and when the international economic circumstances are favourable and if the particular countries are broadly seen to have achieved macroeconomic stability.
I wish to thank Professor Sir Hans Singer for his comments on an earlier draft of this chapter.
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© 1996 Institute of Latin American Studies
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Griffith-Jones, S. (1996). International Capital Flows to Latin America. In: The New Economic Model in Latin America and its Impact on Income Distribution and Poverty. Institute of Latin American Studies Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24520-8_6
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DOI: https://doi.org/10.1007/978-1-349-24520-8_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-66274-8
Online ISBN: 978-1-349-24520-8
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