Advanced Search
MyIDEAS: Login to save this article or follow this journal

Global imbalances, volatile capital inflows and proposed further IMF roles

Contents:

Author Info

  • Nasution, D.
Registered author(s):

    Abstract

    The recent diverging policy choices in the developed world and emerging market countries have been accompanied by a return of private cross-border capital inflows to a number of countries. The increasingly integrated global financial market has spurred capitals to fl ow more easily across borders in search for higher returns. Emerging market countries and commodity exporters have been the desirable destination of such flows. Major pull factors are noted, including improvement in the macroeconomics stability and management that have led to better growth prospects in EMEs and the opening-up of the capital account in varying degrees. These surges have also been driven by a number of push factors such as near zero policy rates in the major centers and perceived low returns in advanced economies. However, recipient countries have also noted the increased volatility of such capital inflows. While domestic policy mix is crucial, the potentially unprecedented repercussion of volatile capital flows requires multidimensional measures including ones originated from regional and global initiatives. The IMF is well-placed to play increasing roles in conducting surveillance, providing global liquidity through its financing facilities, and not less important, giving appropriate policy advices adopting more customised and open-minded perspectives.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.banque-france.fr/fileadmin/user_upload/banque_de_france/publications/Revue_de_la_stabilite_financiere/etude12_rsf_1102.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Banque de France in its journal Financial Stability Review.

    Volume (Year): (2011)
    Issue (Month): 15 (February)
    Pages: 101-105

    as in new window
    Handle: RePEc:bfr:fisrev:2011:15:12

    Contact details of provider:
    Postal: Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS
    Web page: http://www.banque-france.fr/
    More information through EDIRC

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:bfr:fisrev:2011:15:12. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael brassart).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.