Dealing with Exchange Rate IssuesReserves or Capital Controls?

Resumo

Developing countries’ positions regarding the capital account have changed significantly in the last decade. After a period of wide liberalisation, country authorities have now been constantly increasing their policy toolkit with new instruments to intervene in the capital account and limit the consequences of excessively volatile capital flows. This change is a response to the increasing size and volatility of capital flows, which is associated with the process of financialisation that has been taking place in recent decades, where financial actors and motives have assumed more important roles. The increasing magnitude and volatility of finance-related flows are clearly shown in Figure 1, which presents the net financial flows excluding Foreign Direct Investment (FDI) received by developing and emerging countries since 1990. (…)

Ficha do documento

Tipo

Estudo

Ano

2012

Instituição

Instituto de Pesquisa Econômica Aplicada

Fonte

Repositório do Ipea

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/15237

Licença

Licença total exclusiva

Palavras-chave

DealingExchange RateIssuesReservesCapital Controls