Capital flows in and out of Latin America: the other face of the restructuration of the central economics

Vol. 10 No. 1 (1990)

Jan-Mar / 1990
Published January 1, 1990
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Bekerman, Marta. 1990. “Capital Flows in and Out of Latin America: The Other Face of the Restructuration of the Central Economics”. Brazilian Journal of Political Economy 10 (1):49-69. https://doi.org/10.1590/0101-31572023-0517.

Capital flows in and out of Latin America: the other face of the restructuration of the central economics

Marta Bekerman
Conselho Nacional de Investigações Científicas e Técnicas – CONICET. Buenos Aires, Faculdade de Ciências Econômicas da Universidade de Buenos Aires, Buenos Aires, Argentina.
Brazilian Journal of Political Economy, Vol. 10 No. 1 (1990), Jan-Mar / 1990, Pages 49-69

Abstract

The Latin American economies have faced very different scenarios regarding
their access to external financial resources. Scarcity of funds during the 1950s, a substantial
increase in the supply of financial flows by private international banks during the 1970s,
and again a stage of restrictive conditions since 1982. The work looks at the external causes
that made possible these different situations linking them to the particular conditions taking
place in the developed countries. For example, the stagnation of industrial growth that took
place in these countries during the 1970s and the external deficit showed by the US economy
can help to explain the expansion in the supply of funds available to Third World countries
during that decade. On the other hand, the changes showed by the US economy since the
end 1970s can also help to explain the deep changes in the supply of funds available to Latin
America. Some references to the future are also attempted.

JEL Classification: F34; H63.


Keywords: External financial resources external debt international flows of capital