Other Publications
Recent Titles
Working Papers in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Country Reports in full text
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Staff Discussion Notes in full text
2013
2012
2011
2010
2009
All
Technical Notes and Manuals in full text
2013
2012
2011
2010
2009
All
|
|
|
Capital Inflows: The Role of Controls
|
Author/Editor: |
Ostry, Jonathan | Qureshi, Mahvash Saeed | Habermeier, Karl | Reinhardt, Dennis B. S. | Chamon, Marcos | Ghosh, Atish |
|
Electronic Access: |
Free Full Text (PDF file size is 981KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
Summary: With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries with limited savings to attract financing for productive investment projects, foster the diversification of investment risk, promote intertemporal trade, and contribute to the development of financial markets. In this sense, the benefits from a free flow of capital across borders are similar to the benefits from free trade (see Reaping the Benefits of Financial Globalization, IMF Occasional Paper 264, 2008), and imposing restrictions on capital mobility means foregoing, at least in part, these benefits, owing to the distortions and resource misallocation that controls give rise to (see Edwards and Ostry, 1992, for an example of how capital controls interact with other distortions in the economy).
|
|
|
|
Order a print copy
|
|
Series: |
Staff Position Note No. 2010/4 |
|
Subject(s): |
Banking sector | Capital controls | Capital inflows | Exchange rate appreciation | Global Financial Crisis 2008-2009 | Reserves accumulation |
|
|
|
|
| |
Published: |
|
February 19, 2010 |
|
|
|
|
| |
ISBN/ISSN: |
|
9781462347513 |
|
Format: |
|
Paper |
| |
Stock No: |
|
SPNEA2010004 |
|
Pages: |
|
30 |
| |
Price: |
|
Free |
|
|
|
|
|
|
|
| |
Published: |
|
February 19, 2010 |
|
|
|
|
| |
ISBN/ISSN: |
|
978-1-58906-968-8 / 2072-3202 |
|
Format: |
|
Paper |
| |
Stock No: |
|
SPNET2010004 |
|
Pages: |
|
29 |
| |
Price: |
|
Free |
|
|
|
|
|
|
