Following the 1997–98 financial turmoil, crisis countries in Asia moved toward either floating or fixed exchange rate systems, superficially consistent with the bipolar view of exchange rate regimes and the “hollow middle” hypothesis. But some observers have claimed that, despite the...

This paper studies the determinants of private capital flows to developing countries during the last two episodes of large inflows, the late 1970s-early 1980s and the 1990s. The paper also tests for contagion effects in capital flows among recipient countries, and tries to identify specific...

This paper investigates the Generalized Fisher's Hypothesis for the Stock Market in Chile during the 60's, 70's and 80's. We study Fama's proxy hypothesis and, contrary to what has been reported for other countries, we find no significant relationship bet