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dc.contributor.authorNunnenkamp, Peteren_US
dc.date.accessioned2009-01-28T14:15:43Z-
dc.date.available2009-01-28T14:15:43Z-
dc.date.issued2001en_US
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_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 1029-
dc.subject.jelF30en_US
dc.subject.jelG18en_US
dc.subject.ddc330-
dc.subject.keywordcapital account liberalizationen_US
dc.subject.keywordfinancial crises-
dc.subject.keywordfinancial regulation-
dc.subject.keywordinternational financial architecture-
dc.subject.stwKapitalbilanzen_US
dc.subject.stwKapitalmarktliberalisierungen_US
dc.subject.stwInternationale Kapitalmobilitäten_US
dc.subject.stwWirtschaftliche Anpassungen_US
dc.subject.stwBankenaufsichten_US
dc.subject.stwKapitalverkehrspolitiken_US
dc.subject.stwHandelsregionalismusen_US
dc.subject.stwInternationales Währungssystemen_US
dc.subject.stwWelten_US
dc.subject.stwAsienen_US
dc.titleLiberalization and regulation of international capital flows : where the opposites meeten_US
dc.typeWorking Paperen_US
dc.identifier.ppn327932279en_US
dc.identifier.ppn327932279en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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