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Author: Herman Kamil Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781451871777 Category : Languages : en Pages : 25
Book Description
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external borrowing, but had no statistically significant impact on the volume of non- FDI flows as a whole. We find no evidence that restrictions to capital mobility moderated the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that controls have significantly increased the volatility of the exchange rate. Additional research is needed to assess the effects of capital controls on financial stability.
Author: Herman Kamil Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781451871777 Category : Languages : en Pages : 25
Book Description
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external borrowing, but had no statistically significant impact on the volume of non- FDI flows as a whole. We find no evidence that restrictions to capital mobility moderated the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that controls have significantly increased the volatility of the exchange rate. Additional research is needed to assess the effects of capital controls on financial stability.
Author: Chikako Baba Publisher: International Monetary Fund ISBN: 1463926626 Category : Business & Economics Languages : en Pages : 45
Book Description
This paper estimates the effectiveness of capital controls in response to inflow surges in Brazil, Colombia, Korea, and Thailand in the 2000s. Controls are generally associated with a decrease in inflows and a lengthening of maturities, but the relationship is not statistically significant in all cases, and the effects are temporary. Controls are more successful in providing room for monetary policy than dampening currency appreciation pressures. We argue that the macroeconomic impact of capital controls depends on the extensiveness of the policy, the level of capital market development, the support provided by other policies, and the persistence of capital flows.
Author: Bryan Mercurio Publisher: Cambridge University Press ISBN: 1009050753 Category : Law Languages : en Pages : 243
Book Description
Focusing on capital controls, this study provides rigorous legal analysis to establish whether the mandate of the International Monetary Fund (IMF) extends to the capital account; that is, whether the IMF has the authority to control and/or regulate the use of capital controls by its member states. The book then analyses whether a country's use of capital controls is consistent with the obligations and commitments undertaken in various multilateral and bilateral trade and investment agreements. Finally, it analyses the tension within international economic law, as the IMF now encourages the use of capital controls under certain circumstances, while most trade/investment agreements prohibit or limit their use. Proposing a way forward to alleviate the tension and construct a more harmonious relationship between the norms and standards of finance, trade and investment, this study will be essential reading for policymakers.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade Publisher: ISBN: Category : Business & Economics Languages : en Pages : 192
Author: Apoorv Bhargava Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 40
Book Description
With rising financial integration, the magnitude and swings in capital flows have increased in the past two decades, intensifying the policy debate on how best to deal with these flows. This paper assesses the use and effectiveness of capital controls in limiting inflow surges. Using a novel dataset on capital control changes across 40 advanced and emerging market and developing economies over 1995-2018, we find that the tightening of capital controls reduces the probability of future surges both at the aggregate and the asset flow levels. The results are robust to various definitions of surges and are stronger when controls are matched to the asset class they target. Finally, we also find significant multilateral spillovers from capital control actions, pointing towards the need for international cooperation in the use of these policies.
Author: Nairobi Publisher: Springer Nature ISBN: 2384760645 Category : Business & Economics Languages : en Pages : 620
Book Description
This is an open access book.The Faculty of Economics and Business of Universitas Lampung in Indonesia is hosting the International Conference of Economics, Business & Entrepreneurship (ICEBE) 2022, its fifth annual international conference. The goal of this conference is to provide a clear direction and substantial advancements in the quickly recovering global economy. The 5th ICEBE welcomes and cordially encourages all authors to submit outstanding works on a range of topics relevant to the conference's theme. Theme: “Global Economy and Business Recovery Growth to Create a Sustainable Business-Friendly Environment”
Author: Atish R. Ghosh Publisher: MIT Press ISBN: 0262343762 Category : Political Science Languages : en Pages : 489
Book Description
A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows. While always episodic in nature, capital flows to emerging market economies have been especially volatile since the global financial crisis. After peaking at $680 billion in 2007, flows to emerging markets turned negative at the onset of crisis in 2008, then rebounded only to recede again during the U.S. sovereign debt downgrade in 2011. Since then, flows have continued to swing wildly, leaving emerging market policy makers wondering whether they can put in place policies during the inflow phase that will soften the blow when flows subsequently recede. This book offers the first comprehensive treatment of policy measures intended to help emerging markets contend with large and volatile capital flows. The authors, all IMF experts, explain that, in the spirit of liberalization and deregulation in the 1980s and 1990s, many emerging market governments eliminated capital inflow controls along with outflow controls. By 2012, however, capital inflow controls were again acknowledged as legitimate policy tools. Focusing on the macroeconomic and financial-stability risks associated with capital flows, the authors combine theoretical and empirical analysis to consider the interaction between monetary, exchange rate, macroprudential, and capital control policies to mitigate these risks. They examine the effectiveness of various policy tools, discuss the practical considerations and multilateral implications of their use, and provide concrete policy advice for dealing with capital inflows.
Author: Ashwini Deshpande Publisher: Routledge ISBN: 1136315136 Category : Business & Economics Languages : en Pages : 381
Book Description
The world economy is currently in the throes of a global economic crisis reminiscent of the great depressions of the 1930s and the 1870s. As back then, the crisis has exposed the major structural imbalances in financial and credit markets in addition to global trade forcing many governments, developed and developing, to impose debilitating austerity measures that are exacerbating the structural weaknesses that caused the crisis in the first place. This volume offers historical insights into the origins of the contemporary crisis as well as detailed analyses of the financial and trade dimensions, an assessment of the technological and innovation context along with perspectives on the implications for unemployment and gender imbalances.
Author: Javier A. Reyes Publisher: Routledge ISBN: 0429758375 Category : Business & Economics Languages : en Pages : 428
Book Description
Latin America is one of the most intriguing parts of the world. The region’s illustrious history, culture, and geography are famous internationally, but in terms of economics, Latin America has been generally associated with problems. For many, the combination of a resource-rich region and poor economic conditions has been a puzzle. This extensively revised and updated third edition of Latin American Economic Development continues to provide the most up-to-date exploration of why the continent can be considered to have underperformed, how the various Latin American economies function, and the future prospects for the region. The book addresses the economic problems of Latin America theme by theme. Changes and new features in this new edition include: a new chapter on economic growth that reflects the new understanding of slow growth in the region; two new appendices on basic microeconomics and macroeconomics; expanded coverage on new commodities such as lithium and quinoa; a number of new boxes and updates to existing boxes; for instructors, PowerPoint presentations and an extensive test bank are available. The book provides a comprehensive text for undergraduate economics courses on Latin America and is also suitable for use by students in other disciplines looking for a wide-ranging guide to the region. This book will continue to be an invaluable resource for undergraduates looking at Latin American economics, growth, and development.
Author: Herman Kamil
Author: Herman Kamil
Author: Herman Kamil
Author: Chikako Baba
Author: Bryan Mercurio
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Trade
Author: Apoorv Bhargava
Author: Nairobi
Author: Atish R. Ghosh
Author: Ashwini Deshpande
Author: Javier A. Reyes