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dc.contributor.authorBibow, Jörgen_US
dc.date.accessioned2011-09-14en_US
dc.date.accessioned2012-04-12T14:18:28Z-
dc.date.available2012-04-12T14:18:28Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/56990-
dc.description.abstractCurrency market intervention-cum-reserve accumulation has emerged as the favored selfinsurance strategy in recipient countries of excessive private capital inflows. This paper argues that capital account management represents a less costly alternative line of defense deserving renewed consideration, especially in the absence of fundamental reform of the global monetary and financial order. Mainstream arguments in favor of financial globalization are found unconvincing; any indirect benefits allegedly obtainable through hot money inflows are equally obtainable without actually tolerating such inflows. The paper investigates the experiences of Brazil, Russia, India, and China (the BRICs) in the global crisis and subsequent recovery, focusing on their respective policies regarding capital flows.en_US
dc.language.isoengen_US
dc.publisherLevy Economics Inst. Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking paper, Levy Economics Institute 683en_US
dc.subject.jelF02en_US
dc.subject.jelF32en_US
dc.subject.jelF33en_US
dc.subject.jelF39en_US
dc.subject.jelG28en_US
dc.subject.jelO23en_US
dc.subject.ddc330en_US
dc.subject.keywordcapital flowsen_US
dc.subject.keywordself-insuranceen_US
dc.subject.keywordcapital controlsen_US
dc.subject.keywordfinancial regulationen_US
dc.titlePermanent and selective capital account management regimes as an alternative to self-insurance strategies in emerging-market economiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn668286423en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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