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Taming the Tide of Capital Flows

2018-01-12 Political Science
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Release : 2018-01-12
Genre : Political Science
Kind : eBook
Book Rating : 762/5 ( reviews)

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Book Synopsis Taming the Tide of Capital Flows by : Atish R. Ghosh

Download or read book Taming the Tide of Capital Flows written by Atish R. Ghosh. This book was released on 2018-01-12. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Capital Flows at Risk: Taming the Ebbs and Flows

2019-12-20 Business & Economics
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Release : 2019-12-20
Genre : Business & Economics
Kind : eBook
Book Rating : 906/5 ( reviews)

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Book Synopsis Capital Flows at Risk: Taming the Ebbs and Flows by : Mr.R. G Gelos

Download or read book Capital Flows at Risk: Taming the Ebbs and Flows written by Mr.R. G Gelos. This book was released on 2019-12-20. Available in PDF, EPUB and Kindle. Book excerpt: The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global shocks? What are the near- versus medium-term trade-offs of different policies? We tackle these questions using a quantile regression framework to predict the entire future probability distribution of capital flows to emerging markets, based on current domestic structural characteristics, policies, and global financial conditions. This new approach allows policymakers to quantify capital flows risks and evaluate policy tools to mitigate them, thus building the foundation of a risk management framework for capital flows.

Gross Private Capital Flows to Emerging Markets

2014-10-27 Business & Economics
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Release : 2014-10-27
Genre : Business & Economics
Kind : eBook
Book Rating : 928/5 ( reviews)

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Book Synopsis Gross Private Capital Flows to Emerging Markets by : Erlend Nier

Download or read book Gross Private Capital Flows to Emerging Markets written by Erlend Nier. This book was released on 2014-10-27. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the key drivers of private capital flows to a large sample of emerging market economies in the last decade. It analyzes the effect of the global financial cycle, measured by the VIX, on capital flows and investigates the role of fundamentals and country characteristics in mitigating or amplifying its effect. Using interaction models, we find the effect of the VIX to be non-linear. For low levels of the VIX, capital flows are driven by fundamental factors. During periods of stress, the VIX becomes the dominant driver of capital flows while other determinants, with the exception of interest rate differentials, lose statistical significance. Our results also suggest that the effect of global financial conditions on gross private capital flows increases with the host country’s level of financial sector development. Finally, our results imply that countries cannot fully insulate themselves from global financial shocks, unless creating a fragmented global financial system.

Confronting Inequality

2019-01-08 Business & Economics
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Release : 2019-01-08
Genre : Business & Economics
Kind : eBook
Book Rating : 616/5 ( reviews)

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Book Synopsis Confronting Inequality by : Jonathan D. Ostry

Download or read book Confronting Inequality written by Jonathan D. Ostry. This book was released on 2019-01-08. Available in PDF, EPUB and Kindle. Book excerpt: Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Jonathan D. Ostry, Prakash Loungani, and Andrew Berg demonstrate that the extent of inequality depends on the policies governments choose—such as whether to let capital move unhindered across national boundaries, how much austerity to impose, and how much to deregulate markets. While these policies do often confer growth benefits, they have also been responsible for much of the increase in inequality. The book also shows that inequality leads to weaker economic performance and proposes alternative policies capable of delivering more inclusive growth. In addition to improving access to health care and quality education, they call for redistribution from the rich to the poor and present evidence showing that redistribution does not hurt growth. Accessible to scholars across disciplines as well as to students and policy makers, Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.

SHOCKS AND CAPITAL FLOWS

2023
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Release : 2023
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis SHOCKS AND CAPITAL FLOWS by : GASTON. SAHAY GELOS (RATNA.)

Download or read book SHOCKS AND CAPITAL FLOWS written by GASTON. SAHAY GELOS (RATNA.). This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt:

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