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Capital controls: a pragmatic proposal

In: Macroprudential Regulation of International Finance

Author

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  • Maria Socorro Gochoco- Bautista
  • Changyong Rhee

Abstract

Recent events, such as capital flow reversals and banking sector crises, have shaken faith in the widely held belief in the benefits of greater financial integration and financial deepening, which are typical in advanced economies. This book shows that emerging economies have often weathered the storm best despite the supposed burden of ‘weak institutions’. It demonstrates that a better policy framework requires reliable indicators of vulnerability to financial instability, as well as improved policy tools and automatic stabilizers that anticipate and limit the vulnerabilities to financial crises.

Suggested Citation

  • Maria Socorro Gochoco- Bautista & Changyong Rhee, 2016. "Capital controls: a pragmatic proposal," Chapters, in: Dongsoo Kang & Andrew Mason (ed.), Macroprudential Regulation of International Finance, chapter 4, pages 81-103, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17234_4
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    Cited by:

    1. Yin-Wong Cheung & Kenneth K. Chow & Matthew S. Yiu, 2017. "Effects of capital flow on the equity and housing markets in Hong Kong," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 332-349, August.

    More about this item

    Keywords

    Asian Studies; Economics and Finance;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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