The Liberalization and Management of Capital Flows - An Institutional View
Policy Papers, November 14, 2012
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Bibliographic details
- Published: November 14, 2012
- Series: Policy Papers
Summary
- Capital flows have increased significantly in recent years and are a key aspect of the global monetary system.
- They offer potential benefits to countries, but their size and volatility can also pose policy challenges.
- The Fund needs to be in a position to provide clear and consistent advice with respect to capital flows and policies related to them.
- In 2011, the International Monetary and Financial Committee (IMFC) called for "further work on a comprehensive, flexible, and balanced approach for the management of capital flows."
- This paper proposes an institutional view to underpin that approach, drawing on earlier Fund policy papers, analytical work, and Board discussions on capital flows.
Policy context and purpose
- Purpose: To propose an institutional view to underpin a comprehensive, flexible, and balanced approach for the management of capital flows.
- Basis: Draws on earlier Fund policy papers, analytical work, and Board discussions on capital flows.
- Key impetus: IMFC call in 2011 for further work on capital flow management.
Subject tags
- Capital flows
- Capital inflows
- Capital outflows
- Emerging markets
- Fund role
- International cooperation
- International monetary system
- Surveillance
- Technical assistance
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