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Capital Controls: When and Why?

delete2011-11-07
delete73
PRE
AI
J
Jonathan D. Ostry *
A
Atish R. Ghosh
M
Marcos Chamon
M
Mahvash Saeed Qureshi
DOI:10.1057/imfer.2011.15delete
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摘要

摘要

En 中文
How should emerging market countries handle surges in capital inflows that may pose both prudential and macroeconomic policy challenges? We review the arguments on the appropriate management of inflow surges and discuss the conditions under which controls on capital inflows may be appropriate. We argue that if the economy is operating near potential, if reserves are adequate, if the exchange rate is not undervalued, and if the flows are likely to be transitory, then controls on capital inflows-together with macroeconomic policy adjustment and prudential measures-may usefully form part of the policy toolkit.
Keyword:
FLOWS
INFLOWS
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期刊

IMF Economic Review 封面图
IMF Economic Review
IF:
2.2
论文数:
447
被引数:
1.3K

机构

I
International Monetary Fund
学者数:
770
论文数: 877
被引数: 1.4K
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