Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/53527
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dc.contributor.authorKawai, Masahiroen_US
dc.contributor.authorTakagi, Shinjien_US
dc.date.accessioned2011-12-15T12:22:12Z-
dc.date.available2011-12-15T12:22:12Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/53527-
dc.description.abstractHow to manage capital inflows remains an important policy issue for many emerging market economies. This paper presents a brief survey of the literature on managing capital inflows, with a focus on developing and emerging market economies. The paper, after discussing the economic characteristics of capital inflows, provides an overview of the evolution of thinking on capital account liberalization, the use of capital controls as an instrument of managing capital inflows, and the effectiveness and limitations of conventional macroeconomic and structural instruments. Although the literature is still evolving, it provides little practical guidance on capital account liberalization. For those countries facing a surge in capital inflows, consensus seems to be that, aside from learning to live with an appreciating (and fluctuating) currency, and strengthening the financial system, there is no effective and sustainable policy measure either to reduce the size of inflows or to prevent the adverse consequence of such inflows. Additional work is especially needed to develop tools to identify and quantify the various risks of capital inflows.en_US
dc.language.isoengen_US
dc.publisher|aAsian Development Bank Institute (ADBI) |cTokyoen_US
dc.relation.ispartofseries|aADB Institute Discussion Papers |x100en_US
dc.subject.jelF21en_US
dc.subject.jelF32en_US
dc.subject.jelF34en_US
dc.subject.ddc330en_US
dc.subject.stwKapitalimporten_US
dc.subject.stwKapitalverkehrspolitiken_US
dc.titleA survey of the literature on managing capital inflowsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn569574714en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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