Capital flows, exchange rate management and monetary policy
AbstractCapital inflows have brought substantial macro and financial benefits; at the same time, the size and nature of capital inflows have complicated macroeconomic management in recipient countries. Multiple concerns have produced multiple responses by countries to capital inflows. Countries have pursued a combination of policies - let the exchange rate appreciate, accumulate foreign exchange reserves, with or without sterilization, liberalize outflows, tighten monetary and fiscal policies and in a few cases impose capital controls on inflows either directly or through prudential regulation. Experience shows that there are no corner solutions and countries have to resort to a judicious mix of these policies depending on the prevailing circumstances.
Download InfoIf 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.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Macroeconomics and Finance in Emerging Market Economies.
Volume (Year): 1 (2008)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.tandfonline.com/REME20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dooley, Michael P, 1996. "Capital Controls and Emerging Markets," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 1(3), pages 197-205, July.
- Reinhart, Carmen M. & Smith, R. Todd, 2002.
"Temporary controls on capital inflows,"
Journal of International Economics,
Elsevier, vol. 57(2), pages 327-351, August.
- Marcio G. P. Garcia & Alexandre Barcinski, 1996.
"Capital flows to Brazil in the nineties: Macroeconomic aspects and the effectiveness of capital controls,"
Textos para discussÃ£o
357, Department of Economics PUC-Rio (Brazil).
- Garcia, Marcio G. P. & Barcinski, Alexandre, 1998. "Capital Flows to Brazil in the Nineties: Macroeconomic Aspects and the Effectiveness of Capital Controls," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(3, Part 1), pages 319-357.
- Eliana Cardoso & Ilan Goldfajn, 1998.
"Capital Flows to Brazil: The Endogeneity of Capital Controls,"
IMF Staff Papers,
Palgrave Macmillan, vol. 45(1), pages 161-202, March.
- Eliane A. Cardoso & Ilan Goldfajn, 1997. "Capital Flows to Brazil-The Endogeneity of Capital Controls," IMF Working Papers 97/115, International Monetary Fund.
- Helmut Reisen & Hélène Yèches, 1991.
"Time-Varying Estimates on the Openness of the Capital Account in Korea and Taiwan,"
OECD Development Centre Working Papers
42, OECD Publishing.
- Reisen, Helmut & Yeches, Helene, 1993. "Time-varying estimates on the openness of the capital account in Korea and Taiwan," Journal of Development Economics, Elsevier, vol. 41(2), pages 285-305, August.
- Helmut Reisen, 1998. "Domestic Causes of Currency Crises: Policy Lessons for Crisis Avoidance," OECD Development Centre Working Papers 136, OECD Publishing.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.