Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/2554 
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dc.contributor.authorNunnenkamp, Peteren
dc.date.accessioned2009-01-28T14:15:43Z-
dc.date.available2009-01-28T14:15:43Z-
dc.date.issued2001-
dc.identifier.urihttp://hdl.handle.net/10419/2554-
dc.description.abstractThe paper discusses the pros and cons of capital account liberalization. Rather than contrasting liberalization and regulation of capital flows as irreconcilable antagonisms, we argue that capital account liberalization requires institutional and regulatory safeguards. Even though the effectiveness of specific capital controls cannot be taken for granted, we reject the view that financial globalization has deprived national policymakers of the means to protect their economies against crisis. In addition to national safeguards, we assess the chances for crisis prevention and resolution on the regional level and present options to overcome institutional deficits on the global level. We conclude that reforms of the international financial architecture can help prevent illiquidity and ensure a fair burden sharing in the case of insolvency, without aggravating moral hazard behavior of the parties involved.en
dc.language.isoengen
dc.publisher|aKiel Institute of World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1029en
dc.subject.jelF30en
dc.subject.jelG18en
dc.subject.ddc330en
dc.subject.keywordfinancial crisesen
dc.subject.keywordfinancial regulationen
dc.subject.keywordinternational financial architectureen
dc.subject.keywordcapital account liberalizationen
dc.subject.stwKapitalbilanzen
dc.subject.stwKapitalmarktliberalisierungen
dc.subject.stwInternationale Kapitalmobilitäten
dc.subject.stwWirtschaftliche Anpassungen
dc.subject.stwBankenaufsichten
dc.subject.stwKapitalverkehrspolitiken
dc.subject.stwHandelsregionalismusen
dc.subject.stwInternationales Währungssystemen
dc.subject.stwWelten
dc.subject.stwAsienen
dc.titleLiberalization and regulation of international capital flows: where the opposites meet-
dc.typeWorking Paperen
dc.identifier.ppn861918428en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1029en
dc.identifier.printppn327932279en

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