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Recent Experiences In Managing Capital Inflows Cross Cutting Themes And Possible Policy Framework Supplementary Information
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Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498339344 Total Pages :4 pages Book Rating :4.4/5 (983 download)
Book Synopsis Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework—Supplementary Information by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework—Supplementary Information written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2011-02-15 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement provides further information on some of the issues covered in Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework that have been highlighted in staff’s informal discussions with Directors. These include the role of supply-side factors behind the surge in capital flows and the nature of the framework pertaining to the use of capital flow management measures (CFMs).
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498339352 Total Pages :98 pages Book Rating :4.4/5 (983 download)
Book Synopsis Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Recent Experiences in Managing Capital Inflows—Cross-Cutting Themes and Possible Policy Framework written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2011-02-14 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging markets (EMs) are experiencing a surge in capital inflows, lifting asset prices and growth prospects. While inflows are typically beneficial for receiving countries, inflow surges can carry macroeconomic and financial stability risks. This paper reviews the recent experience of EMs in dealing with capital inflows and suggests a possible framework for IMF policy advice on the spectrum of measures available to policymakers to manage inflows, including macroeconomic policies, prudential measures and capital controls. Illustrative applications of this framework suggest that it may be appropriate for several countries, based on their current circumstances, to consider prudential measures or capital controls in response to capital inflows. The suggested framework is intended to inform staff policy advice to all Fund members with open capital accounts. It forms part of a broader effort to sharpen Fund surveillance, preserve evenhandedness, and foster greater global policy coordination. As indicated in the Supplement to this paper, this broader effort includes the development of “global rules of the game” on macroprudential policies, capital account liberalization, and reserve adequacy, and the preparation of spillover reports assessing spillovers from the five systemic economies—all of which will inform the current and broader framework being developed.
Book Synopsis Recent Experiences in Managing Capital Inflows-Cross-Cutting Themes and Possible Policy Framework by : Internationaler Währungsfonds
Download or read book Recent Experiences in Managing Capital Inflows-Cross-Cutting Themes and Possible Policy Framework written by Internationaler Währungsfonds and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This supplement provides further information on some of the issues covered in Recent Experiences in Managing Capital Inflows-Cross-Cutting Themes and Possible Policy Framework that have been highlighted in staff's informal discussions with Directors. These include the role of supply-side factors behind the surge in capital flows and the nature of the framework pertaining to the use of capital flow management measures (CFMs).
Book Synopsis Recent Experiences in Managing Capital Inflows by :
Download or read book Recent Experiences in Managing Capital Inflows written by and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Emerging markets (EMs) are experiencing a surge in capital inflows, lifting asset prices and growth prospects. While inflows are typically beneficial for receiving countries, inflow surges can carry macroeconomic and financial stability risks. This paper reviews the recent experience of EMs in dealing with capital inflows and suggests a possible framework for IMF policy advice on the spectrum of measures available to policymakers to manage inflows, including macroeconomic policies, prudential measures and capital controls. Illustrative applications of this framework suggest that it may be appropriate for several countries, based on their current circumstances, to consider prudential measures or capital controls in response to capital inflows."--Abstract.
Book Synopsis Managing Capital Flows by : Masahiro Kawai
Download or read book Managing Capital Flows written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
Book Synopsis Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs by : Gurnain Kaur Pasricha
Download or read book Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs written by Gurnain Kaur Pasricha and published by International Monetary Fund. This book was released on 2022-03-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund’s Institutional View (IV) recognizes the benefits of and risks associated with capital flows. Since the IV was adopted, a growing literature has provided additional insights into the benefits and risks from capital flows. This note summarizes the insights from the recent literature and the experiences of staff since the adoption of the IV that have informed this review.
Book Synopsis Unconventional Monetary Policies - Recent Experiences and Prospects by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Unconventional Monetary Policies - Recent Experiences and Prospects written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-04-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses three questions about unconventional monetary policies. First, what policies were tried, and with what objectives? Second, were policies effective? And third, what role might these policies continue to play in the future?
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498339778 Total Pages :46 pages Book Rating :4.4/5 (983 download)
Book Synopsis Guidance Note for Article IV Consultations by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Guidance Note for Article IV Consultations written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-10-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note provides guidance to staff on the conduct of surveillance in the context of Article IV consultations, a core activity of the Fund. Surveillance involves the continuous monitoring of members‘ economic and financial policies and their impact on their own and global stability. During Article IV consultations, staff holds pointed discussions with country authorities on the economic situation, the authorities‘ policies and how these affect the country‘s stability, the role of potential or actual spillovers where relevant, and desirable policy adjustments. These discussions are then reported to the Fund‘s Executive Board for its consideration. The goal, through thorough analysis, candid discussions, and a peer-review mechanism, is to promote the stability of members‘ economies, as well as the effective operation of the international monetary system, including through maintaining global stability.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475507623 Total Pages :3046 pages Book Rating :4.4/5 (755 download)
Book Synopsis Annual Report on Exchange Arrangements and Exchange Restrictions 2011 by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Annual Report on Exchange Arrangements and Exchange Restrictions 2011 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2011-10-25 with total page 3046 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published since 1950, this authoritative, annual reference is based upon a unique IMF database that tracks exchange and trade arrangements for all 186 IMF member countries, along with Hong Kong SAR, Aruba, and the Netherlands Antilles. The Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER) draws together information available to the IMF from a number of sources, including during official IMF staff visits to member countries. There is a separate chapter for each of the 189 countries included, and these are presented in a clear, easy-to-read tabular format. A summary table allows for simple cross-country comparisons of key features of their exchange and trade regimes. The report's introduction summarizes recent global trends and developments. It discusses such topical issues as exchange rate arrangements, current or capital transactions, or prudential regulations. The individual country chapters outline exchange measures in place, the structure and setting of exchange rates, arrangements for payments and receipts, procedures for resident and nonresident accounts, mechanisms for import and export payments and receipts, controls on capital transactions, and provisions specific to the financial sector. The report now provides more detailed information on the operations of foreign exchange markets and exchange rate mechanisms and better describes the regulatory framework for current and capital account transactions.
Book Synopsis Recurring Issues from a Decade of Evaluation by : International Monetary Fund. Independent Evaluation Office
Download or read book Recurring Issues from a Decade of Evaluation written by International Monetary Fund. Independent Evaluation Office and published by International Monetary Fund. This book was released on 2014-08-21 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report seeks to help the IMF enhance its effectiveness by identifying major recurring issues from the IEO’s first 20 evaluations and assessing where they stand. The IMF’s core areas of responsibility are surveillance, lending, and capacity development. The aim of this report is to strengthen the follow-up process by focusing on key issues that recurred in IEO evaluations, rather than on specific recommendations on their implementation. The IEO believes that a framework of reviewing and monitoring recurring issues would be useful in establishing incentives for progress, strengthening the Board’s oversight, and providing learning opportunities for the IMF.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498339174 Total Pages :33 pages Book Rating :4.4/5 (983 download)
Book Synopsis Macroprudential Policy - An Organizing Framework - Background Paper by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Macroprudential Policy - An Organizing Framework - Background Paper written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2011-03-14 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: MCM conducted a survey in December 2010 to take stock of international experiences with financial stability and the evolving macroprudential policy framework. The survey was designed to seek information in three broad areas: the institutional setup for macroprudential policy, the analytical approach to systemic risk monitoring, and the macroprudential policy toolkit. The survey was sent to 63 countries and the European Central Bank (ECB), including all countries in the G-20 and those subject to mandatory Financial Sector Assessment Programs (FSAPs). The target list is designed to cover a broad range of jurisdictions in all regions, but more weight is given to economies that are systemically important (see Annex for details). The response rate is 80 percent. This note provides a summary of the survey’s main findings.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498339115 Total Pages :33 pages Book Rating :4.4/5 (983 download)
Book Synopsis Strengthening the International Monetary System - Taking Stock and Looking Ahead by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Strengthening the International Monetary System - Taking Stock and Looking Ahead written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2011-03-23 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current IMS has survived for over forty years, underpinning strong growth in GDP and in the international exchange of goods and capital, one of its core objectives. As a result, interdependence among the world’s economies has grown dramatically, making the existence of a sound system ever more important. At the same time, the system has exhibited many symptoms of instability—frequent crises, persistent current account imbalances and exchange rate misalignments, volatile capital flows and currencies, and unprecedentedly large reserve accumulation. These symptoms have come to a head since the 2008 crisis and brought renewed international momentum to the idea of attempting to reform the IMS. Yet the debate so far suggests little consensus on the underlying problems, let alone on the solutions. This paper identifies four root causes to these problems: inadequate global adjustment mechanisms to prevent inconsistent or imprudent policies among systemic countries; lack a comprehensive oversight framework for growing cross-border capital flows, covering both source and recipient countries; inadequate systemic liquidity provision mechanisms; and structural challenges in the supply of safe assets.
Download or read book Capital Flows written by Peter J. Montiel and published by . This book was released on 2013 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an analytical overview of recent contributions to the literature on the policy implications of capital flows in emerging and developing countries, focusing specifically on capital inflows as well as on the links between inflows and subsequent capital-flow reversals. The objective is to clarify the policy challenges that such inflows pose and to evaluate the policy alternatives available to the recipient countries to cope with those challenges. A large menu of possible policy responses to large capital inflows is considered, and experience with the use of such policies is reviewed. A policy 'decision tree'-i. e. , an algorithm for determining how to deploy policies in response to an exogenous inflow episode- is developed, and strategies to achieve resilience to both inflows and outflows in a world where exogenous events may frequently drive capital flows in both directions are discussed.
Book Synopsis 2011 Triennial Surveillance Review - External Study - IMF and Global Financial Stability by : International Monetary Fund
Download or read book 2011 Triennial Surveillance Review - External Study - IMF and Global Financial Stability written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-07-25 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: External study prepared by John Palmer, Chair, Toronto Leadership Centre, former Superintendent, Office of the Superintendent of Financial Institutions, Canada, former Deputy Managing Director Monetary Authority of Singapore, former Canadian Managing Partner of KPMG and Yoke Wang Tok, Former Senior Advisor to the IMF Executive Director representing ASEAN, Nepal, Fiji and Tonga and former Principal Economist, Monetary Authority of Singapore: This report aims to provide an independent view of how the Fund is discharging its multilateral surveillance responsibilities, in particular its contribution to global financial stability and crisis prevention, working in coordination with other relevant international groupings/institutions such as the FSB and BIS. As we emerge from the global financial crisis (GFC), the Fund has regained much of its credibility and relevance. The GFC caught many, including the IMF, by surprise. Since then, the Fund has done considerable self-analysis and taken active steps to strengthen its surveillance and policy advice and to improve traction with policy makers. The IEO report on the Fund’s performance in the run-up to the financial and economic crisis identified various shortcomings that needed to be addressed. One of its key findings was the inability of the Fund to connect-the dots, to deliver hard-hitting messages and the difficulty experienced by the Fund in thinking beyond mainstream/official views. Many of the IEO’s findings have relevance to this review.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781498340854 Total Pages :48 pages Book Rating :4.3/5 (48 download)
Book Synopsis Liberalizing Capital Flows and Managing Outflows by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Liberalizing Capital Flows and Managing Outflows written by International Monetary Fund. Monetary and Capital Markets Department and published by INTERNATIONAL MONETARY FUND. This book was released on 2012-03-13 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the fourth in a series of Board papers developing a comprehensive Fund view on capital flows and the policies that affect them. A first paper in December 2010 dealt with the Fund’s overall role in this area, both historically and prospectively. The second paper in March 2011 developed a framework for policy advice on managing capital inflows broadly endorsed by the Board, which constitutes a first round articulation of the Fund’s institutional views on managing capital inflows. The third paper in November 2011 examined the multilateral aspects of policies affecting capital flows, and focused mainly on source country policies. This paper covers liberalizing capital flows and the management of outflows.
Book Synopsis Taming the Tide of Capital Flows by : Atish R. Ghosh
Download or read book Taming the Tide of Capital Flows written by Atish R. Ghosh and published by MIT Press. This book was released on 2018-01-12 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows. 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 treatment of policy measures intended to help emerging markets contend with large and volatile capital flows. The authors, all IMF experts, explain that, in the spirit of liberalization and deregulation in the 1980s and 1990s, many emerging market governments eliminated capital inflow controls along with outflow controls. By 2012, however, capital inflow controls were again acknowledged as legitimate policy tools. Focusing on the macroeconomic and financial-stability risks associated with capital flows, the authors combine theoretical and empirical analysis to consider the interaction between monetary, exchange rate, macroprudential, and capital control policies to mitigate these risks. They examine the effectiveness of various policy tools, discuss the practical considerations and multilateral implications of their use, and provide concrete policy advice for dealing with capital inflows.
Book Synopsis Mapping Cross-Border Financial Linkages - A Supporting Case for Global Financial Safety Nets by : International Monetary Fund
Download or read book Mapping Cross-Border Financial Linkages - A Supporting Case for Global Financial Safety Nets written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-01-06 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper maps cross-border financial linkages and identifies factors that drive them, contributing to the discussion on the appropriate design of a global financial safety net (GFSN). It builds on previous staff work and complements the findings of the companion paper on the Analytics of Systemic Crises and the Role of Global Financial Safety Nets. This paper notes the growing roles of financial linkages and complexity in injecting latent instability into the global financial system, underscoring the value of a GFSN design that is effective in forestalling the risk that a localized liquidity shock propagates through the global financial network turning into a large-scale systemic crisis.
