English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

Capital flows represent opportunities to finance the growth and development of countries, but they also entail risks, including macroeconomic and financial. Policy responses to mitigate its effects play an important role especially in emerging markets. This paper evaluates the fiscal policy stance in front to shocks on capital flows recorded during the last two decades in six emerging economies of Latin America: Argentina, Brazil, Chile, Colombia, Mexico and Peru.Based on the characterization of the different episodes of sudden inflows and outflows of capital and on the results of a panel data model with instrumental variables, we found that governments did not responded with exceptional fiscal measures. By contrast, the procyclicality in the fiscal stance seems to be associated to the effect of capital flows on economic activity.

La política fiscal frente a los flujos de capital: evidencia para algunos países de América Latina