U S , Balance of Payments (m biPions of Was. dollxs) Capita! account plus net

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INTERNATIONAL MONETARY FUND Research Department Capital Inflows and Real Exchange Rate Appreciation

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Context 1

... . balance of payments $n the form of Increased outflows and reduced inflows ( Table 4 ) 3 J As indicated earlier, private capital outflows from Japan also increased sharply, by $36 billion, in 1991. ...

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