Taming Capital Flows: Capital Account Management in an Era of Globalization : IEA Conference Volume No. 154

This volume contains country experiences explained by policy makers and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. It addresses portfolio flow issues central to open economies, especially emerging markets. Capital flows, especially in the form of hot money flows, pose an important problem for many countries. There are many similarities in causes of capital flows to emerging economies but policy responses differ. This timely volume presents country experiences with capital flows and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. Providing a mixture of empirical and theoretical studies of the issue and detailed country studies for Brazil, Chile, Peru, and Turkey, this volume of collected essays covers the most important aspects of the debate on capital flows in an accessible manner. Taming Capital Flows provides an in-depth analysis of capital flows in emerging markets, and makes essential reading for researchers and scholars interested in development economics, finance and international trade Capital flows, especially in the form of hot money flows, pose an important problem for many countries. There are many similarities in causes of capital flows to emerging economies but policy responses differ. This timely volume presents country experiences with capital flows and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. Providing a mixture of empirical and theoretical studies of the issue and detailed country studies for Brazil, Chile, Peru, and Turkey, this volume of collected essays covers the most important aspects of the debate on capital flows in an accessible manner. 'Taming Capital Flows' provides an in-depth analysis of capital flows in emerging markets, and makes essential reading for researchers and scholars interested in development economics, finance and international trade.-- Provided by publisher Front Matter....Pages i-xii Introduction....Pages 1-5 Front Matter....Pages 6-6 Peru’s Recent Experience in Managing Capital Flows....Pages 7-30 The Turkish Approach to Capital Flow Volatility....Pages 31-54 Front Matter....Pages 55-55 The Liberalization of Capital Account in China: Retrospect and Prospect....Pages 56-81 Appropriate Policy Tools to Manage Capital Flow Externalities....Pages 82-92 Navigating Capital Flows in Brazil and Chile....Pages 93-122 Front Matter....Pages 123-123 Monetary Policy in a Multi-Polar World....Pages 124-170 Managing Capital Flows — Capital Controls and Foreign Exchange Intervention....Pages 171-196 Back Matter....Pages 197-202