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Taming the Tide of Capital Flows – A Policy Guide | MIT Press Scholarship Online
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Taming the Tide of Capital Flows: A Policy Guide

Atish R. Ghosh, Jonathan D. Ostry, and Mahvash S. Qureshi

Abstract

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 ... More

Keywords: capital flows, global financial crisis, emerging markets, policy measures, capital inflow control, capital outflow control, exchange rate, monetary policy

Bibliographic Information

Print publication date: 2018 Print ISBN-13: 9780262037167
Published to MIT Press Scholarship Online: September 2018 DOI:10.7551/mitpress/9780262037167.001.0001

Authors

Affiliations are at time of print publication.

Atish R. Ghosh, author
International Monetary Fund

Jonathan D. Ostry, author
International Monetary Fund

Mahvash S. Qureshi, author
International Monetary Fund