The Effectiveness of Capital Controls and Prudential Policies in Managing Large Inflows

 
Author/Editor: Habermeier, Karl ; Kokenyne, Annamaria ; Baba, Chikako
 
Publication Date: August 05, 2011
 
Electronic Access: Free Full text (PDF file size is 539KB).
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Summary: IMF staff have recently sought to clarify when capital controls could be a part of the toolkit to manage large capital inflows. In doing so, considerable emphasis has been laid on the need to ensure that controls in fact achieve their intended objectives. The paper reviews the theoretical rationale and empirical evidence for the effectiveness of controls and related measures, with an emphasis on experiences in the past decade. New research by staff on these issues is summarized. The results confirm earlier work that capital controls and similar measures have a mixed track record.
 
Series: Staff Discussion Notes No. 11/14
Subject(s): Capital controls | Capital inflows | Exchange rate appreciation | Credit expansion | Macroprudential Policy | Risk management | Emerging markets | Cross country analysis

Author's Keyword(s): Capital controls | financial regulation | macroprudential policies | capital inflows | emerging market economies
 
English
Publication Date: August 05, 2011
ISBN/ISSN: 9781463902896 Format: Paper
Stock No: SDNEA2011014 Pages: 35
Price:
US$20.00 (Academic Rate:
US$20.00 )
 
 
English
Publication Date: August 05, 2011
ISBN/ISSN: 978-1-61635-144-1 / 2221-030X Format: A web quality merged PDF
Stock No: SDNET2011014 Pages: 35
Price:
Free
 
 
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