Formerly a favourite location for private capital inflows, Brazil was virtually cut off from further bank lending in the 1980s. The country's rating in secondary loan markets plummeted, and foreign direct investment dwindled. New external financing was replaced by an accumulation of interest...

Tariffs no longer represent the most serious impediment to international trade. As the importance of tariffs in restricting free trade has been declining, non-tariff barriers are becoming increasingly important. The use of selected non-tariff barriers is analyzed, focusing on anti-dumping...

Over the past decade, South Africa has attracted relatively little foreign direct investment (FDI), but considerable amounts of portfolio inflows. In this context, the objective of the paper is twofold: to identify the determinants of the level and composition of capital flows to emerging...