Title

Financial Resource Flows, Macro Policy Response, and the Socio-Economic Environment: The Experience of Latin America and East Asia

Document Type

Article

Publication Date

9-1-2004

Abstract

This paper analyzes the compositional changes in financial resource flows to, and the consequent macroeconomic policy response of, the largest recipients in Latin America and East Asia during the last decade. Further, it evaluates the socio-economic impact of these flows on the attained level of empowerment of the broader population in both regions. The analysis suggests that recent financial crises were catalysts for compositional shifts between aid, portfolio, and FDI flows. Further, public policies in both regions were effective in mitigating the most deleterious effects of these flows. Finally, the analysis indicates that both regions were successful in translating these financial inflows into better living standards.

DOI

10.1016/j.socec.2004.04.005

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