1945
CEPAL Review No. 55, April 1995
  • E-ISSN: 16840348

Abstract

This article explores the causes, consequences, magnitude and forms of a phenomenon which is of fundamental importance in the current scene and has enormous implications for the Latin American economics: the growing pace of international capital movements. Many billions of dollars are shifted across national borders by satellite, and a small part of this amount has become the basic element in Latin America’s external financing. This financial globalization has its roots in the accumulation of enormous tied liquid surpluses, the generalized liberalization of capital accounts after the collapse of the Bretton Woods frontiers, and the impact of the technological revolution in the fields of informatics and communications.

Related Subject(s): Economic and Social Development

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