Restraints On Capital Flows: What Are They?
AbstractThough there has been much general debate recently about the pros and cons of capital controls, there remains substantial confusion and uncertainty about what exactly is entailed by the term â€˜restraining global capital flowsâ€™. Popular discussion around this has typically been long on rhetoric and loose generalisations and acutely short on specifics. The aim of this paper is therefore to help refine the debate somewhat by clarifying and systematically categorising the various concepts that have been discussed in policy circles and the popular media. Two specific country experiences with restraining capital flows, viz. Chile and Malaysia are highlighted and discussed, as are the recent and muchpublicised proposals for exchange controls (a la Paul Krugman) and a global currency transactions tax in the forms of a Tobin tax.[Working Paper No. 3]
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 InfoPaper provided by eSocialSciences in its series Working Papers with number id:2553.
Date of creation: Jun 2010
Date of revision:
Note: Institutional Papers
Contact details of provider:
Web page: http://www.esocialsciences.org
debate; capital controls; substantial; global capital flows; generalisations; systematically categorising; Chile; Malaysia; Paul Krugman; Tobin tax;
Other versions of this item:
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
This paper has been announced in the following NEP Reports:
- NEP-ACC-2010-06-26 (Accounting & Auditing)
- NEP-ALL-2010-06-26 (All new papers)
- NEP-IFN-2010-06-26 (International Finance)
- NEP-SEA-2010-06-26 (South East Asia)
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.:
- Liliana Rojas-Suárez & Donald J. Mathieson, 1993.
"Liberalization of the Capital Account: Experiences and Issues,"
IMF Occasional Papers
103, International Monetary Fund.
- Donald J. Mathieson & Liliana Rojas-SuÃ¡rez, 1992. "Liberalization of the Capital Account: Experiences and Issues," IMF Working Papers 92/46, International Monetary Fund.
- Eichengreen, Barry & Tobin, James & Wyplosz, Charles, 1995.
"Two Cases for Sand in the Wheels of International Finance,"
Royal Economic Society, vol. 105(428), pages 162-72, January.
- Barry Eichengreen, James Tobin, and Charles Wyplosz., 1994. "Two Cases for Sand in the Wheels of International Finance," Center for International and Development Economics Research (CIDER) Working Papers C94-045, University of California at Berkeley.
- Carmen M. Reinhart & R. Todd Smith, 1996.
"Too much of a good thing: the macroeconomic effects of taxing capital inflows,"
Federal Reserve Bank of San Francisco, pages 436-464.
- Reinhart, Carmen & Smith, R. Todd, 1998. "Too much of a good thing: The macroeconomic effects of taxing capital inflows," MPRA Paper 13234, University Library of Munich, Germany.
- Ramkishen S. Rajan, 1998.
"The Japanese Economy and Economic Policy in Light of the East Asian Financial Crisis,"
Macroeconomics Working Papers
22382, East Asian Bureau of Economic Research.
- Ramkishen Rajan, 2010. "The Japanese Economy and Economic Policy in Light of the East Asian Financial Crisis," Working Papers id:2695, eSocialSciences.
- Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1994.
"Is There a Safe Passage to EMU? Evidence on Capital Controls and a Proposal,"
CEPR Discussion Papers
1061, C.E.P.R. Discussion Papers.
- Barry Eichengreen & Andrew K. Rose & Charles Wyplosz, 1996. "Is There a Safe Passage to EMU? Evidence on Capital Controls and a Proposal," NBER Chapters, in: The Microstructure of Foreign Exchange Markets, pages 303-332 National Bureau of Economic Research, Inc.
- Barry Eichengreen, Andrew K. Rose, and Charles Wyplosz., 1995. "Is There a Safe Passage to EMU? Evidence on Capital Controls and a Proposal," Center for International and Development Economics Research (CIDER) Working Papers C95-047, University of California at Berkeley.
- Sebastian Edwards, 1998. "Capital Inflows into Latin America: A Stop-Go Story?," NBER Working Papers 6441, National Bureau of Economic Research, Inc.
- Helmut Reisen, 1998. "Domestic Causes of Currency Crises: Policy Lessons for Crisis Avoidance," OECD Development Centre Working Papers 136, OECD Publishing.
- Ramkishen Rajan, 2010. "Sand in the Wheels of International Finance: Revisiting the Debate in Light of the East Asian Mayhem," Working Papers id:2686, eSocialSciences.
- Anisha Sabhlok, 2010. "The Evolution of Singapore Business: A Case Study Approach," Working Papers id:2818, eSocialSciences.
- Melike Altinkemer, 2005. "Recent Experiences with Capital Controls : Is There A Lesson for Turkey?," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 5(2), pages 1-38.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Padma Prakash).
If references are entirely missing, you can add them using this form.