Capital Inflows And Balance Of Payments Pressures
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Capital Inflows And Balance Of Payments Pressures
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Author : Mr.Juan Zalduendo
language : en
Publisher: International Monetary Fund
Release Date : 2008-06-01
Capital Inflows And Balance Of Payments Pressures written by Mr.Juan Zalduendo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-01 with Business & Economics categories.
Although capital inflows are generally beneficial to recipient countries, they also pose a challenge for the conduct of economic policy. This paper proposes a conceptual taxonomy to guide the design of policy responses in the face of capital flows. We explore how responses to capital surges should be differentiated based on the source of balance of payments pressures. We also examine whether the policy choices in emerging market countries conform to the taxonomy's predictions and find some correspondence, especially during periods of high global liquidity.
International Capital Flow Pressures
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Author : Ms.Linda S. Goldberg
language : en
Publisher: International Monetary Fund
Release Date : 2018-02-16
International Capital Flow Pressures written by Ms.Linda S. Goldberg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-16 with Business & Economics categories.
This paper presents a new measure of capital flow pressures in the form of a recast Exchange Market Pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes the Global Risk Response Index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk aversion. For a large sample of countries over time, we demonstrate time variation in the effects of global risk on exchange market pressures, the evolving importance of the global factor across types of countries, and the changing risk-on or risk-off status of currencies.
The Capital Inflows Problem
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Author : Guillermo A. Calvo
language : en
Publisher: International Monetary Fund
Release Date : 1993-08
The Capital Inflows Problem written by Guillermo A. Calvo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-08 with Business & Economics categories.
Since 1990 capital has started to move from industrial countries to developing regions like Latin America, the Middle East and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary pressures, a real exchange rate appreciation, a deterioration in the current account, and a boom in bank lending. This paper briefly examines how these inflows have altered the macroeconomic environment in a number of Asian and Latin American countries. The pros and cons of a menu of policy options are discussed.
Financial Capital Flows In The Balance Of Payments Of The United States
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Author : Ralph C. Bryant
language : en
Publisher:
Release Date : 1970
Financial Capital Flows In The Balance Of Payments Of The United States written by Ralph C. Bryant and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Balance of payments categories.
Managing Capital Flows
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Author : Masahiro Kawai
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
Managing Capital Flows written by Masahiro Kawai and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.
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.
The Impact Of Controlson Capital Movementson The Private Capital Accounts Of Countries Balance Of Payments
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Author : Mr.R. B. Johnston
language : en
Publisher: International Monetary Fund
Release Date : 1994-07-01
The Impact Of Controlson Capital Movementson The Private Capital Accounts Of Countries Balance Of Payments written by Mr.R. B. Johnston and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-07-01 with Business & Economics categories.
This paper reports research on the impact of controls on capital movements on the private capital accounts of countries’ balance of payments using data drawn from 52 countries for the period 1985-92. The results indicate that: (1) capital controls operated by developing countries have not been effective in insulating the private capital accounts of these countries’ balance of payments, and (2) capital controls operated by industrial countries significantly affected the structure of their capital flows mainly by inhibiting net foreign direct and portfolio investment outflows. The results, which are consistent with other observations, raise issues for the policy toward the maintenance and liberalization of controls on capital movements by developing countries.
International And Interregional Payments Adjustment
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Author : Marina von Neumann Whitman
language : en
Publisher:
Release Date : 1967
International And Interregional Payments Adjustment written by Marina von Neumann Whitman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Balance of payments categories.
Balance Of Payments Textbook
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1996-04-15
Balance Of Payments Textbook written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-04-15 with Business & Economics categories.
The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
Policy Responses To Capital Flows In Emerging Markets
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Author : Mahmood Pradhan
language : en
Publisher: International Monetary Fund
Release Date : 2011-04-20
Policy Responses To Capital Flows In Emerging Markets written by Mahmood Pradhan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-20 with Business & Economics categories.
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Exchange Market Pressures And Speculative Capital Flows In Selected European Countries
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Author : Ms.Inci Ötker
language : en
Publisher: International Monetary Fund
Release Date : 1994-02-01
Exchange Market Pressures And Speculative Capital Flows In Selected European Countries written by Ms.Inci Ötker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-02-01 with Business & Economics categories.
This paper estimates a speculative attack model of currency crises in an attempt to identify the roles of macroeconomic fundamentals and speculative market pressures in the recent crisis, as well as earlier devaluations in adjustable fixed exchange rate systems in the European currency markets. For a sample of five countries, including Denmark, Ireland, Spain, Norway, and Sweden, our empirical analyses show that both economic fundamentals and speculative factors have a significant influence on the probability of devaluations. The recent experience in the European foreign exchange markets suggests that the latest realignments are mainly the result of foreign exchange market tensions amidst the growing conflict between the needs of the domestic economies and the policies needed to maintain fixed exchange rates. Our results confirm that regardless of the source of the deterioration in economic conditions, market participants perceived the existing parities of the currencies in these five countries as inconsistent with their underlying economic fundamentals, thus effectively bringing about either a realignment or a modification of the exchange arrangement.