000			01893caa a22002538i 4500
001			751522750014
003			FR-PaOEC
005			20210419171742.0
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007			cr || |||m|n||
008			171201s1991 ||| o i|0| 0 eng d
035			_a(FR-PaOEC)
040			_aFR-PaOEC
100	1		_ade Aghion, Béatriz Armendariz.
245	1	0	_aLong-Term Capital Reflow Under Macroeconomic Stabilization in Latin America _h[electronic resource] / _cBéatriz Armendariz de Aghion
260			_aParis : _bOECD Publishing, _c1991.
300			_a32 p. ; _c21 x 29.7cm.
490	1		_aOECD Development Centre Working Papers, _x18151949 ; _vno.38
520	3		_aThis paper focuses on the scope for stabilizing Latin American economies to repatriate capital for the financing of long-term investments and economic recovery in the region. In particular, a simple two-period investment model is developed to show that a government seeking capital repatriation may be tempted to introduce investment subsidies on such long-term capital inflows. Typically, however, such a government will be facing the following trade off: small investment subsidies may not be sufficient to attract large-scale repatriation, and high aggregate subsidies may trigger inflationary expectations. A decreasing subsidy scheme is shown to be optimal. Such a scheme has the following properties: it provides an incentive for investors to repatriate their capital early, and at the same time, it keeps government spending low enough not to jeopardize stabilization programmes. A decreasing subsidy scheme could account for the success that the Chilean debt-equity-swap programmes have ...
650		4	_aDevelopment
830		0	_aOECD Development Centre Working Papers, _x18151949 ; _vno.38.
856	4	0	_aoecd-ilibrary.org _uhttps://s443-doi-org.br.lsproxy.net/10.1787/751522750014
942			_2ddc _cW-PAPER
999			_c366847 _d325409