We have now witnessed more than half a decade of relatively heavy capital inflows to a large group of highly heterogeneous developing countries and economies in transition in Asia, Eastern Europe, the Former Soviet Union, Latin America, and parts of Africa and the Middle East--we have also witnessed the broad range of policy responses that these inflows have elicited. In light of this, the aim of this paper is threefold: first, we take stock of which countries implemented which policies; second, we attempt to assess to what extent the policies achieved their intended objectives; lastly, we draw lessons about which policies appear to have been the most successful tool in coping with surging capital inflows, with emphasis on the "policy mix" and how they interact.
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Find related papers by JEL classification: F3 - International Economics - - International Finance E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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M S Mohanty & Philip Turner, 2005.
"Intervention: what are the domestic consequences?,"
BIS Papers chapters,
in: Bank for International Settlements (ed.), Foreign exchange market intervention in emerging markets: motives, techniques and implications, volume 24, pages 56-81
Bank for International Settlements.
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