Managing Capital Flows: The Search for a Framework

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Managing Capital Flows: The Search for a Framework Summary:

Edw ard El gar Pub | 2011 | ISBN: 1848447876 | 452 pages | PDF | 2,2 MB

`Restraints on hot money flows are respectable again, if only because of near zero short-term interest rates in the United States and Japan. This volume focuses mainly on Asian economies through overviews and nine specific country studies. It is an invaluable reference work on how governments use ever-changing rules governing banks as well as equity and portfolio investments to insulate their monetary systems from international hot money inflows.' 

- Ronald I. McKinnon, Stanford University, US 

Managing Capital Flows provides analyses designed to 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.

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