Managing Capital Flows : Lessons From the Experience of Chile

Author/Editor:

Bernard J Laurens ; Jaime Cardoso

Publication Date:

December 1, 1998

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

As a result of the Asian crisis, methods of coping with volatile international capital markets have received considerable attention from observers and policymakers. It has been argued that the imposition by Chile of a nonremunerated reserve requirement on external borrowing played a useful role in the smooth liberalization of its capital account by allowing Chile to deal effectively with short-term capital inflows and thus to reduce its vulnerability to external shocks, and that such measures should be adopted by other countries. In light of this, this paper reviews Chile’s experience in managing capital flows and draws lessons for policymakers.

Series:

Working Paper No. 98/168

Subject:

English

Publication Date:

December 1, 1998

ISBN/ISSN:

9781451858235/1018-5941

Stock No:

WPIEA1681998

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

53

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