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“In Case of Emergency, Break-Open Glass†: The IMF’s “New†Institutional View, Financial Instability, and Financing Development Processes

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  • Devin Thomas Rafferty

Abstract

After the North Atlantic Financial Crisis, the International Monetary Fund (IMF) shifted towards a greater acceptance of capital controls (what it calls capital flow management measures) for regulating international capital flows with the publication of its “New†Institutional View. This begs the question of what such a change means for developing economies; specifically, whether the new framework addresses the needs they have for producing financial stability. That is the topic examined in this paper.

Suggested Citation

  • Devin Thomas Rafferty, 2017. "“In Case of Emergency, Break-Open Glass†: The IMF’s “New†Institutional View, Financial Instability, and Financing Development Processes," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(4), pages 543-550, December.
    • Handle: RePEc:sae:reorpe:v:49:y:2017:i:4:p:543-550
    DOI: 10.1177/0486613417707932
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    References listed on IDEAS

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    More about this item

    Keywords

    international financial instability; development finance; capital controls; IMF; “new†institutional view;
    All these keywords.

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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