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Informationen zum Autor Mary Elizabeth King is Professor of peace and conflict studies for the UN-affiliated University for Peace, main campus Costa Rica; Distinguished Fellow at the Rothermere American Institute, University of Oxford, Britain; Scholar-in-Residence, Center for Peacebuilding and Development, School of International Service, American University, Washington, DC. Klappentext This book compares and contrasts the theoretical paradigm and empirical evidence on merits of capital account liberalization and the role of capital account management. The debates are focused on how to attract larger flows of capital to finance investment while safeguarding macro-management and averting sudden stops, flight to quality and resulting destabilizing forces to the economy. Zusammenfassung Volatility in capital flows has increased significantly in recent years, particularly since the global financial crisis of 2008, making capital flow management one of the biggest challenges facing emerging market economies. How successful were these countries in managing their capital flows in the face of volatile global capital flows during 2003-12? And how effective were policymakers in stemming the fallout on the economies of these countries? The essays by eminent contributors compare and contrast the theoretical paradigm and empirical evidence on merits of capital account liberalization and the role of capital account management. With special focus on emerging market economies, the debates focus on ways to attract larger flows of capital to finance investment while safeguarding macro-management and averting sudden stops, flight to quality, and the resultant destabilizing forces to the economy. Bringing together the perspectives of academics and researchers on the one hand, and central bankers on the other, this volume offers a deeper understanding of capital account management which has remained one of the most debated topics among policymakers in the past decade. Inhaltsverzeichnis Introduction Section I: Compositional Shift and Volatility of Capital Flows 1: Kristin J. Forbes: Capital Flow Volatility and Contagion: A Focus on Asia 2: Joseph E. Gagnon: All Currencies Are Reserve Currencies Section II: Challenges of Capital Account Management 3: Michael W. Klein: Capital Controls and Real Exchange Rates 4: Jonathan D. Ostry: Capital Controls: When Are Multilateral Considerations of the Essence? Section III: Select Country Experiences 5: Subir Gokarn and Bhupal Singh: Costs and Benefits of Capital Account Management in India 6: Abhijit Sen Gupta and Rajeswari Sengupta: Negotiating the Trilemma and Reserve Management in an Era of Volatile Capital Flows 7: Luiz Awazu Pereira da Silva and Ricardo Eyer Harris: Sailing through the Global Financial Storm: Brazil's Recent Experience with Monetary and Macro Prudential Policies to Lean Against the Financial Cycle and Deal with Systematic Risks 8: Hartadi A. Sarwono: Managing Capital Flows: Indonesia's Experience About the Editors and Contributors ...
