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Capital Flows to Developing Economies throughout the Twentieth Century

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Financial Globalization and Democracy in Emerging Markets

Part of the book series: International Political Economy Series ((IPES))

Abstract

The recent surge in capital inflows to developing countries shares several features of the experiences of the late nineteenth and early twentieth centuries, but a number of new characteristics as well. This chapter begins with a survey of international finance at the beginning of this century followed by a review of capital inflows since the 1960s. The final section briefly addresses three issues. First, what has been the role of financial liberalization among the determinants of the recent upswing in capital inflows, and what are its implications for the recipient economies? Second, can we say something on the ‘quality’ of the new flows? Third, what are the long-run relationships between external finance, growth, and welfare in developing economies?

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Authors
  1. Stefano Manzocchi
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Editor information

Editors and Affiliations

  1. Reed College, Portland, Oregon, USA

    Leslie Elliott Armijo (Visiting Scholar) (Visiting Scholar)

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© 2001 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Manzocchi, S. (2001). Capital Flows to Developing Economies throughout the Twentieth Century. In: Armijo, L.E. (eds) Financial Globalization and Democracy in Emerging Markets. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780333994894_3

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