Managing Capital Flows

Issues in Selected Emerging Market Economies

Price: 995.00 INR

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ISBN:

9780199453344

Publication date:

13/10/2014

Hardback

320 pages

220.0x150.0mm

Price: 995.00 INR

We sell our titles through other companies
Disclaimer :You will be redirected to a third party website.The sole responsibility of supplies, condition of the product, availability of stock, date of delivery, mode of payment will be as promised by the said third party only. Prices and specifications may vary from the OUP India site.

ISBN:

9780199453344

Publication date:

13/10/2014

Hardback

320 pages

220.0x150.0mm

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

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.

Suitable for: Policymakers, government agencies, professionals, scholars, societies, institutions, and research centres working on capital management and monetary economics. 

Rights:  World Rights

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

Description

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.

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

Table of contents

List of Tables and Figures 
Foreword by Wencai Zhang 
Overview 
Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay
 
Section I Compositional Shift and Volatility of
Capital Flows
1. Capital Flow Volatility and Contagion: A Focus on Asia 
Kristin J. Forbes
2. All Currencies Are Reserve Currencies 
Joseph E. Gagnon
 
Section II Challenges of Capital Account Management
3. Capital Controls and Real Exchange Rates 
Michael W. Klein
4. Capital Controls: When Are Multilateral Considerations of the Essence? 
Jonathan D. Ostry
 
Section III Select Country Experiences
5. Costs and Benefits of Capital Account Management in India: A Practitioner's Perspective 
Subir Gokarn and Bhupal Singh
6. Negotiating the Trilemma and Reserve Management in an Era of Volatile Capital Flows in India 
Abhijit Sen Gupta and Rajeswari Sengupta
7. Sailing through the Global Financial Storm: Brazil's Recent Experience with Monetary and Macroprudential Policies to Lean Against the Financial Cycle and Deal with Systemic Risks 
Luiz Awazu Pereira da Silva and Ricardo Eyer Harris
8. Managing Capital Flows: Indonesia's Experience 
Hartadi A. Sarwono
 
Index 

About the Editors and Contributors  

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

Hiranya Mukhopadhyay, Bruno Carrasco & Subir Gokarn

Description

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.

Read More

Table of contents

List of Tables and Figures 
Foreword by Wencai Zhang 
Overview 
Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay
 
Section I Compositional Shift and Volatility of
Capital Flows
1. Capital Flow Volatility and Contagion: A Focus on Asia 
Kristin J. Forbes
2. All Currencies Are Reserve Currencies 
Joseph E. Gagnon
 
Section II Challenges of Capital Account Management
3. Capital Controls and Real Exchange Rates 
Michael W. Klein
4. Capital Controls: When Are Multilateral Considerations of the Essence? 
Jonathan D. Ostry
 
Section III Select Country Experiences
5. Costs and Benefits of Capital Account Management in India: A Practitioner's Perspective 
Subir Gokarn and Bhupal Singh
6. Negotiating the Trilemma and Reserve Management in an Era of Volatile Capital Flows in India 
Abhijit Sen Gupta and Rajeswari Sengupta
7. Sailing through the Global Financial Storm: Brazil's Recent Experience with Monetary and Macroprudential Policies to Lean Against the Financial Cycle and Deal with Systemic Risks 
Luiz Awazu Pereira da Silva and Ricardo Eyer Harris
8. Managing Capital Flows: Indonesia's Experience 
Hartadi A. Sarwono
 
Index 

About the Editors and Contributors  

Read More