International Capital Flows to Latin America: What is the Promise?
研究了1990年资本流入激增后拉丁美洲持续吸引投资的前景，指出其取决于全球利率、国内固定收益资本市场发展以及政治社会改革，尤其关注低收入群体经济状况改善对资本流动的影响。
Driven by external and internal factors, capital inflows to Latin America rose sharply from about 1 percent of gross national product (GNP) during most of the 1980s to more than 3 percent in 1990. Given the size of external debt owed by the region and the amount of capital still held abroad, the prospects for sustained investment flows depend to a significant extent on global interest rates, the development of domestic fixed-income capital markets, and political and social reforms. The instability that stems from the failure of existing political institutions to redirect new-found saving into improved economic conditions for low-income groups—especially in urban areas—could not only reduce foreign capital inflows but also encourage domestic savings to move abroad once again.