Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.
Author(s): Masahiro Kawai, Mario B. Lamberte, eds.
Publisher: Edward Elgar Pub
Year: 2011
Language: English
Pages: 464
Contents......Page 4
Contributors......Page 6
Preface......Page 8
Abbreviations......Page 10
Introduction
Masahiro Kawai and Mario B. Lamberte......Page 14
1. Managing capital flows: emerging Asia’s experiences, policy issues and challenges Masahiro Kawai and Mario B. Lamberte
......Page 22
2. A survey of the literature on managing capital inflows Masahiro Kawai and Shinji Takagi
......Page 59
3. Central banks and capital flows
Stephen Grenville......Page 88
4. Managing large capital inflows: taking stock of international experiences
Susan Schadler......Page 118
5. Managing recent hot money inflows in Asia Robert N. McCauley
......Page 142
6. Crises, capital controls and financial integration Eduardo Levy-Yeyati, Sergio L. Schmukler
and Neeltje van Horen......Page 173
7. Managing capital flows: experiences from Central and Eastern Europe Jürgen von Hagen and Iulia Siedschlag
......Page 205
8. Managing capital flows: the case of the People’s Republic of China Yongding Yu
......Page 230
9. Managing capital flows: the case of India
Ajay Shah and Ila Patnaik......Page 252
10. Managing capital flows: the case of Indonesia
Ira S. Titiheruw and Raymond Atje......Page 273
11. Managing capital flows: the case of the Republic of Korea Soyoung Kim and Doo Yong Yang
......Page 293
12. Managing capital flows: the case of Malaysia Kee Kuan Foong
......Page 318
13. Managing capital flows: the case of the Philippines
Josef T. Yap......Page 343
14. Managing capital flows: the case of Singapore
Hwee Kwan Chow......Page 374
15. Managing capital flows: the case of Thailand
Kanit Sangsubhan......Page 399
16. Managing capital flows: the case of Viet Nam Tri Thanh Vo and Chi Quang Pham
......Page 424
Index......Page 452
