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Managing Capital Flows: Macroeconomic Analysis and Policies (MCF)

MCF

This course, presented by the Institute for Capacity Development, is devoted to fostering understanding of the dynamics of capital flows and their effects on economic growth, macroeconomic volatility, and risk of crisis. The course discusses policy options available to reap the benefits of capital market integration while minimizing and mitigating its adverse effects. The course starts with a refresher on balance of payments statistics and a description of alternative measures of capital flows and financial (capital) account openness. The second part of the course introduces the determinants of capital flows and the link between these flows and economic growth, macroeconomic volatility, and crisis risk. The course concludes with a discussion of capital account management tools and how they relate to financial regulation and exchange rate intervention. The course includes case studies of actual crises, so that participants learn how policy setting and failure to recognize and address the buildup of vulnerabilities led to crisis. Throughout the course, participants are expected to engage in discussions and work on practical workshop exercises to solidify their understanding of the lecture material.

Read More Topic : Monetary Exchange Rate and Capital Account Policies

    Target Audience

    Mid-level to senior officials from central banks, ministries of finance, and other government agencies.

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    Qualifications

    Participants will be expected to have an advanced degree in economics or equivalent experience, and to be proficient in the use of Excel.

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    Pre-requisites

    Not applicable.

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    Course Objectives

    Discussion of course materials.

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    Syllabus

    This two-week course is devoted to fostering the understanding of the dynamics of capital flows and their effects on growth, macroeconomic volatility, and crisis risk. The course discusses the policy options available to reap the benefits of capital market integration while minimizing and mitigating its adverse consequences.

    Through studies of actual crises, participants will learn how policy settings and failures in recognizing and addressing the buildup of vulnerabilities lead to crisis. They will also study what policies different countries put in place to stabilize the economy and how the economy evolved and recovered.

    Topics to be covered include the benefits and costs of financial integration; the capital inflow problem; and models of currency crises and sudden stops of capital inflows. Workshops and case studies are important components of the course. They allow the participants to grasp better the concepts and to take advantage of the experience of the instructors.

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    Upcoming Offering

    Start date End date Location Session No. Primary & (Interpretation) language Apply
    November 9, 2020 November 20, 2020 Vienna, Austria JV 20.36 English (Russian) Cancelled
    February 8, 2021 February 19, 2021 Ebene, Mauritius AT 21.50V English (French) Apply online by January 1, 2021
    April 12, 2021 April 23, 2021 Asuncion, Paraguay OT 21.13V Spanish Invitation
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    Apply Now - Application deadline approaching:

    IMF offers online training to government officials and public. Click Learn more to find our current offerings.

    Virtual - Financial Sector Surveillance (FSS)

    English, November 2-6, 2020, Vienna, Austria

    Apply online by September 20, 2020

    Virtual - Financial Development and Financial Inclusion (FDFI)

    English, November 16-27, 2020, Singapore, Singapore

    Apply online by September 21, 2020

    Virtual - Economic Issues in Regional Integration (ERI)

    English (French), October 12-23, 2020, Ebene, Mauritius

    Apply online by September 23, 2020

    Virtual - Fiscal Frameworks (FF)

    English (French), October 26, 2020 - November 6, 2020, Ebene, Mauritius

    Apply online by September 23, 2020

    Virtual - Financial Sector Policies (FSP)

    English (French), November 9-20, 2020, Ebene, Mauritius

    Apply online by September 25, 2020