Effects Of Capital Flow Liberalization
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Effects Of Capital Flow Liberalization
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Author : Tahsin Saadi Sedik
language : en
Publisher: International Monetary Fund
Release Date : 2012-11-16
Effects Of Capital Flow Liberalization written by Tahsin Saadi Sedik 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 2012-11-16 with Business & Economics categories.
This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability. The results of the panel data regressions indicate that greater openness to capital flows is associated with higher growth, gross capital flows, and equity returns and with lower inflation and bank capital adequacy ratios. The effects vary depending on thresholds. As a potential application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of explanatory variables to the corresponding variables of China in 2012–16.
Do Inflows Or Outflows Dominate Global Implications Of Capital Account Liberalization In China
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 2013-08-28
Do Inflows Or Outflows Dominate Global Implications Of Capital Account Liberalization In China written by Mr.Tamim Bayoumi 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 2013-08-28 with Business & Economics categories.
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in- and outflows, but the direction of net flows has depended on many factors. An econometric portfolio allocation model finds that capital controls significantly dampen cross-border portfolio asset holdings. The model also suggests that capital account liberalization in China may trigger net portfolio outflows as large domestic savings seek to diversify abroad.
Capital Account Liberalization
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Author : Christoph Yew
language : en
Publisher: GRIN Verlag
Release Date : 2010-07-02
Capital Account Liberalization written by Christoph Yew and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-02 with Business & Economics categories.
Diploma Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 2.0, University of Osnabrück (Fachbereich Außenwirtschaft), language: English, abstract: During the recent decades, many countries decided to get access to international financial markets by liberalizing their capital accounts. As we will see in this paper, the issues of liberalization are very complex. Many different areas like, for example, growth, inflation or the labor market are affected by it. For some areas, empirical research supports theory and delivers sustainable and significant results. For others, theory is inconsistent or not supported by evidence from the real world. Some special ones, like for instance welfare or productivity, even show that it is important to split up the results to see whose welfare is increased or which's branch productivity is affected. Another interesting point is the connection between crises and capital account liberalization. Due to the financial crises that occurred in the aftermath of liberalization the concept has been controversially debated by academics for a long time. The real connection between these two issues is not yet clear. The structure of this paper is as follows. Section 2 will give short case studies of countries that liberalized their capital account. Section 3 is meant to endow the reader with some basic tools that will be important for the understanding of the concepts that will be presented later on in this paper. This includes definitions and conceptual ideas about measuring capital account liberalization. Section 4 focuses on the theory and empirical findings. In that section, the effects of liberalization on various macroeconomic variables will be presented. Section 5 follows the thoughts of the prior one by having a look at the implications that can be concluded from the theoretical and empirical findings that have been presented in the prior chapter. Section 6 discusses capital account liberalization with r
Capital Mobility In Asia
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Author : Juthathip Jongwanich
language : en
Publisher: Flipside Digital Content Company Inc.
Release Date : 2018-02-14
Capital Mobility In Asia written by Juthathip Jongwanich and has been published by Flipside Digital Content Company Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-14 with Business & Economics categories.
Ever since the East Asian financial crisis it has been recognized that emerging market economies are vulnerable to both excessive inflows of capital and sudden outflows. This book presents new research on the determinants and effects of capital flows as well as the effectiveness of capital control policies in dealing with volatile capital flows in emerging Asian countries. It examine three issues related to capital movements in Asia: (1) the key factors determining such mobility; (2) the impact of capital movements in a home country, especially on real exchange rates; and (3) the effectiveness of capital account policies.
Capital Account Liberalization
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Author : Mr.Giovanni Dell'Ariccia
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-30
Capital Account Liberalization written by Mr.Giovanni Dell'Ariccia 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 1998-09-30 with Business & Economics categories.
Capital account liberalization - orderly, properly sequence, and befitting the individual circumstances of countries- is an inevitable step for all countries wishing to realize the benefits of the globalized economy. This paper reviews the theories behind capital account liberalization and examines the dangers associated with free capital flows. The authors conclude that the dangers can be limited through a combination of sound macroeconomic and prudential policies.
Financial Globalization And Inequality Capital Flows As A Two Edged Sword
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Author : Mr.Barry J. Eichengreen
language : en
Publisher: International Monetary Fund
Release Date : 2021-01-08
Financial Globalization And Inequality Capital Flows As A Two Edged Sword written by Mr.Barry J. Eichengreen 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 2021-01-08 with Business & Economics categories.
We review the debate on the association of financial globalization with inequality. We show that the within-country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on the composition of capital flows, their interaction, and on broader economic and institutional conditions. A comprehensive set of policies – macroeconomic, financial and labor- and product-market specific – is important for facilitating wider sharing of the benefits of financial globalization.
Macroeconomic Effects Of Capital Account Liberalization
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Author : Soyoung Kim
language : en
Publisher:
Release Date : 2004
Macroeconomic Effects Of Capital Account Liberalization written by Soyoung Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
The macroeconomic effects of capital account liberalization in Korea are examined. Simple data analysis suggests that capital account liberalization substantially changed the nature and composition of capital flows. Based on the VAR model, the authors find the following stylized facts. First, after capital market liberalization, capital flows become less driven by current account imbalances and therefore become more autonomous. Second, capital account liberalization significantly changes the effects of capital flows on macroeconomic variables. Third, capital account liberalization is highly related to consumption and investment booms, and subsequent appreciation of nominal and real exchange rates, which leads to the current account worsening. Finally, there is strong evidence of sterilized foreign exchange market intervention in response to capital inflows.
Taming Capital Flows
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Author : J. Stiglitz
language : en
Publisher: Springer
Release Date : 2015-05-05
Taming Capital Flows written by J. Stiglitz and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-05 with Business & Economics categories.
This volume contains country experiences explained by policy makers and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. It addresses portfolio flow issues central to open economies, especially emerging markets.
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
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Author : Gurnain Kaur Pasricha
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-30
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 has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-30 with Business & Economics categories.
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.
Guidance Note For The Liberalization And Management Of Capital Flows
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2013-04-25
Guidance Note For The Liberalization And Management Of Capital Flows written by International Monetary Fund. Strategy, Policy, & Review Department 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 2013-04-25 with Business & Economics categories.
This note provides operational guidance to staff for how to use the Fund’s institutional view on the liberalization and management of capital flows. The institutional view is a consistent basis for providing policy advice on capital flows and policies related to them and assessments when required for surveillance. In the absence of an institutional view, country teams risk providing inconsistent advice to countries in similar circumstances (IEO, 2005). The view does not have mandatory implications for Fund-supported programs or technical assistance. It does not alter members’ rights and obligations under the Fund’s Articles of Agreement or under any other international agreements. The institutional view and guidance will evolve over time to reflect new experience, emerging views of authorities and staff, and research. Staff teams are encouraged to reflect useful lessons from authorities’ experiences with capital flow liberalization and management in Fund reports so that these experiences can continue to influence the Fund’s approach to these issues.