Coping With Capital Inflows

Author : Inci Ötker,Zbigniew Polanski,Barry Topf,David Vávra
Publisher : INTERNATIONAL MONETARY FUND
Page : 44 pages
File Size : 42,8 Mb
Release : 2007-07-01
Category : Electronic
ISBN : 1451867549

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Coping with Capital Inflows: Experiences of Selected European Countries by Inci Ötker,Zbigniew Polanski,Barry Topf,David Vávra Pdf

This paper reviews the experiences of a number of European countries in coping with capital inflows. It describes the nature of the inflows, their implications for macroeconomic and financial stability, and the policy responses used to cope with them. The experiences suggest that as countries become more integrated with international financial markets, there is little room to regulate capital flows effectively. The most effective ways to deal with capital inflows would be to deepen the financial markets, strengthen financial system supervision and regulation, where needed, and improve the capacity to design and implement sound macroeconomic and financial sector policies. These actions will help increase the absorption capacity and resilience of the economies and financial systems to the risks associated with the inflows.

Author : Richard Portes,David Vines
Publisher : Commonwealth Secretariat
Page : 48 pages
File Size : 47,5 Mb
Release : 1997
Category : Business & Economics
ISBN : 0850925029

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Coping with International Capital Flows by Richard Portes,David Vines Pdf

Private capital flows to developing countries have increased dramatically. This book identifies key concerns about the sustainability and volatility of these flows, and makes a number of recommendations for national macroeconomics management, including crisis prevention measures. In addition there is an innovative proposal for the orderly workout of sovereign debt

Author : Anonim
Publisher : Unknown
Page : 50 pages
File Size : 54,8 Mb
Release : 2007
Category : Capital market
ISBN : UCSD:31822034969584

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Coping with Capital Inflows by Anonim Pdf

This paper reviews the experiences of a number of European countries in coping with capital inflows. It describes the nature of the inflows, their implications for macroeconomic and financial stability, and the policy responses used to cope with them. The experiences suggest that as countries become more integrated with international financial markets, there is little room to regulate capital flows effectively. The most effective ways to deal with capital inflows would be to deepen the financial markets, strengthen financial system supervision and regulation, where needed, and improve the capacity to design and implement sound macroeconomic and financial sector policies. These actions will help increase the absorption capacity and resilience of the economies and financial systems to the risks associated with the inflows

Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 98 pages
File Size : 41,9 Mb
Release : 2011-02-14
Category : Business & Economics
ISBN : 9781498339353

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Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework by International Monetary Fund. Strategy, Policy, & Review Department Pdf

Emerging markets (EMs) are experiencing a surge in capital inflows, lifting asset prices and growth prospects. While inflows are typically beneficial for receiving countries, inflow surges can carry macroeconomic and financial stability risks. This paper reviews the recent experience of EMs in dealing with capital inflows and suggests a possible framework for IMF policy advice on the spectrum of measures available to policymakers to manage inflows, including macroeconomic policies, prudential measures and capital controls. Illustrative applications of this framework suggest that it may be appropriate for several countries, based on their current circumstances, to consider prudential measures or capital controls in response to capital inflows. The suggested framework is intended to inform staff policy advice to all Fund members with open capital accounts. It forms part of a broader effort to sharpen Fund surveillance, preserve evenhandedness, and foster greater global policy coordination. As indicated in the Supplement to this paper, this broader effort includes the development of “global rules of the game” on macroprudential policies, capital account liberalization, and reserve adequacy, and the preparation of spillover reports assessing spillovers from the five systemic economies—all of which will inform the current and broader framework being developed.

Author : C. H. Kwan,Donna Vandenbrink,Siow Yue Chia
Publisher : Institute of Southeast Asian Studies
Page : 344 pages
File Size : 55,8 Mb
Release : 1998
Category : Business & Economics
ISBN : 9812300163

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Coping with Capital Flows in East Asia by C. H. Kwan,Donna Vandenbrink,Siow Yue Chia Pdf

This timely book examines how the countries of East Asia coped with the vast pool of international capital that flowed into the region during the early 1990s. East Asia appeared to be doing well. But, as this book was in preparation in 1997, a currency crisis sent capital fleeing and catapulted the East Asian economies into turmoil. Country-specific updates describe events since July 1997, how government authorities addressed the crisis, and what lessons can be learned.

Author : Mr.Jaime Cardoso,Mr.Bernard Laurens
Publisher : International Monetary Fund
Page : 53 pages
File Size : 49,6 Mb
Release : 1998-12-01
Category : Business & Economics
ISBN : 9781451858235

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Managing Capital Flows by Mr.Jaime Cardoso,Mr.Bernard Laurens Pdf

As a result of the Asian crisis, methods of coping with volatile international capital markets have received considerable attention from observers and policymakers. It has been argued that the imposition by Chile of a nonremunerated reserve requirement on external borrowing played a useful role in the smooth liberalization of its capital account by allowing Chile to deal effectively with short-term capital inflows and thus to reduce its vulnerability to external shocks, and that such measures should be adopted by other countries. In light of this, this paper reviews Chile’s experience in managing capital flows and draws lessons for policymakers.

Author : Ricardo Ffrench-Davis
Publisher : Unknown
Page : 277 pages
File Size : 50,9 Mb
Release : 1995-01-01
Category : Amérique latine - Politique économique
ISBN : 0889366020

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Coping with Capital Surges by Ricardo Ffrench-Davis Pdf

Private capital flows to Latin America have increased dramatically since 1989. This book examines the possible causes and consequences of this new and unforeseen wave of investment from the perspectives of both the borrower and the lender. The authors first analyze direct investment, securities investment (both bonds and shares), and bank lending by investors in the United States, Europe, and Japan, as well as the regulations affecting those investors. They differentiate among the scale, features, and motivations of those investors and lenders. The authors then turn to the features of capital flows, their macroeconomic impact, and policy responses in three recipient countries: Argentina, Chile, and Mexico. Those policy responses fundamentally relate to attempts to moderate the impact of capital inflows on exchange rates, to reduce the monetary impact of foreign exchange operations, and to moderate short-term capital inflows.

Author : Carmen M. Reinhart,Steven Vincent Dunaway
Publisher : Unu World Institute for Development Economics Research
Page : 60 pages
File Size : 50,5 Mb
Release : 1996
Category : Business & Economics
ISBN : UCSD:31822028458305

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Dealing with Capital Inflows by Carmen M. Reinhart,Steven Vincent Dunaway Pdf

Dealing with Capital Inflows: Are There Any Lessons? reviews the experience of a heterogeneous group of developing countries in maintaining macroeconomic stability in the face of heavy capital inflows. It makes a comparison of country responses organized according to policy response & identifies the limitations of each of these policies & conditions under which some policies can be self-defeating in that they attract more short-term investment. The publication is part of the Research for Action series which discusses policy-oriented research on the main strategic issues of development & international cooperation, as well as on the interaction between domestic & global changes.

Author : Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth
Publisher : International Monetary Fund
Page : 45 pages
File Size : 41,6 Mb
Release : 2011-04-20
Category : Business & Economics
ISBN : 9781463935122

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Policy Responses to Capital Flows in Emerging Markets by Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth Pdf

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Author : Masahiro Kawai,Mario B. Lamberte
Publisher : Edward Elgar Publishing
Page : 465 pages
File Size : 50,6 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849806879

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Managing Capital Flows by Masahiro Kawai,Mario B. Lamberte Pdf

Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

Author : Punam Chuhan
Publisher : Unknown
Page : 36 pages
File Size : 48,7 Mb
Release : 1996
Category : Capital movements
ISBN : UCSD:31822023720121

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International Capital Flows by Punam Chuhan Pdf

Author : Miles Kahler
Publisher : Cornell University Press
Page : 284 pages
File Size : 41,8 Mb
Release : 2018-09-05
Category : Political Science
ISBN : 9781501731402

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Capital Flows and Financial Crises by Miles Kahler Pdf

Capital flows to the developing economies have long displayed a boom-and-bust pattern. Rarely has the cycle turned as abruptly as it did in the 1990s, however: surges in lending were followed by the Mexican peso crisis of 1994-95 and the sudden collapse of currencies in Asia in 1997. This volume maps a new and uncertain financial landscape, one in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policymakers who confront the "mixed blessing" of capital inflows and the international institutions that manage the recurrent crises.The authors—leading economists and political scientists—examine private capital flows and their consequences in Latin America, Pacific Asia, and East Europe, placing current cycles of lending in historical perspective. National governments have used a variety of strategies to deal with capital-account instability. The authors evaluate those responses, prescribe new alternatives, and consider whether the new circumstances require novel international policies.

Author : Stephany Griffith-Jones,Ricardo Gottschalk,Jacques Cailloux
Publisher : University of Michigan Press
Page : 373 pages
File Size : 47,7 Mb
Release : 2009-12-14
Category : Business & Economics
ISBN : 9780472024827

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International Capital Flows in Calm and Turbulent Times by Stephany Griffith-Jones,Ricardo Gottschalk,Jacques Cailloux Pdf

International Capital Flows in Calm and Turbulent Times analyzes the financial crises of the late 1990s and draws attention to the type of lenders and investors that triggered and deepened the crises. It concentrates on institutional investors and banks and provides detailed analysis of the countries most affected by the 1997-98 Asian financial crisis as well as the Czech Republic and Brazil. It also suggests necessary international financial reforms to make crises less likely. The book is unique in its scrutiny of the type of lenders and investors that triggered and deepened the crises, focusing particularly on institutional investors and banks; allocation of their assets; the criteria used in this process; and the impact of the nature of the investor on the volatility of different types of capital flow. It addresses such questions as: What determines or triggers massive changes in perceptions and sentiment by different investors and leaders? To what extent does contagion spread not just among countries but between actors? What are the policy implications of this analysis? The book concludes by examining the asymmetries in the financial architecture discussions and implementation and by offering policy proposals.

Author : Ricardo Ffrench-Davis,Stephany Griffith-Jones
Publisher : Lynne Rienner Pub
Page : 277 pages
File Size : 47,6 Mb
Release : 1995
Category : Business & Economics
ISBN : 1555875629

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Coping with Capital Surges by Ricardo Ffrench-Davis,Stephany Griffith-Jones Pdf

Private capital flows to Latin America have increased dramatically since 1989, approximately doubling in volume each year. This book examines the possible causes of the new - and unforeseen - wave of investment, from both the borrower and the lender perspective. Three countries are studied.

Author : Zdenek Drabek,Stephany Griffith-Jones
Publisher : M.E. Sharpe
Page : 266 pages
File Size : 43,5 Mb
Release : 1999
Category : Business & Economics
ISBN : 0765603691

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Managing Capital Flows in Turbulent Times by Zdenek Drabek,Stephany Griffith-Jones Pdf

Volatility in emerging markets has become a familiar problem in the cases of Latin America and Asia; the same phenomenon in the new market economies of Eastern Europe -- the Czech Republic, Poland, and Hungary -- is of newer vintage. This book explores the patterns and problems of capital inflows in the Central European economies in a global context, highlighting the critical importance of transparency and prudent regulatory regimes in economic development.