Managing Capital Flows: Issues in Selected Emerging Market Economies by Bruno CarrascoManaging Capital Flows: Issues in Selected Emerging Market Economies by Bruno Carrasco

Managing Capital Flows: Issues in Selected Emerging Market Economies

EditorBruno Carrasco, Hiranya Mukhopadhyay, Subir Gokarn

Hardcover | November 13, 2014

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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 inthe 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 ofcapital 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 offersa deeper understanding of capital account management which has remained one of the most debated topics among policymakers in the past decade.
Bruno Carrasco is currently the Director of South Asia Public Management, Financial Sector and Trade Division (SAPF) of the Asian Development Bank (ADB). Subir Gokarn is currently Senior Fellow and Director of Research, Brookings India. Hiranya Mukhopadhyay is currently working as a Senior Public Management Economist at the Asian Deve...
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Title:Managing Capital Flows: Issues in Selected Emerging Market EconomiesFormat:HardcoverDimensions:368 pages, 8.7 × 5.59 × 0.03 inPublished:November 13, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199453349

ISBN - 13:9780199453344

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Table of Contents

IntroductionSection I: Compositional Shift and Volatility of Capital Flows1. Kristin J. Forbes: Capital Flow Volatility and Contagion: A Focus on Asia2. Joseph E. Gagnon: All Currencies Are Reserve CurrenciesSection II: Challenges of Capital Account Management3. Michael W. Klein: Capital Controls and Real Exchange Rates4. Jonathan D. Ostry: Capital Controls: When Are Multilateral Considerations of the Essence?Section III: Select Country Experiences5. Subir Gokarn and Bhupal Singh: Costs and Benefits of Capital Account Management in India6. Abhijit Sen Gupta and Rajeswari Sengupta: Negotiating the Trilemma and Reserve Management in an Era of Volatile Capital Flows7. 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 Risks8. Hartadi A. Sarwono: Managing Capital Flows: Indonesia's ExperienceAbout the Editors and Contributors