Capital mobility. An overview
The article analyses the problem of international capital mobility which the Asian crisis has highlighted. It points out that the problem of capital mobility ("hot money" panics) has a long history, but globalization, the opening up of national economies and technological advance have increased the risks. The article discusses four policy debated which are being pursued in the large Asian crisis literature: (i) the pros and cons of capital controls, (ii) the choice of exchange rate regime, (iii) financial factor reform, and (iv) the rule of law.
References listed on IDEAS
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- George Fane, 2000. "Survey of Recent Developments," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 36(1), pages 13-45.
- H. W. Arndt, 1957. "Overseas Borrowing—The New Model," The Economic Record, The Economic Society of Australia, vol. 33(65), pages 247-261, 08.
- J. D. Pitchford, 1989. "A Sceptical View of Australia's Current Account and Debt Problem," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 22(2), pages 5-14.
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