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The International Regulatory Regime on Capital Flows and Trade in Services

Author

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  • Lupo Pasini, Federico

    (Asian Development Bank Institute)

Abstract

Capital controls and exchange restrictions are used to restrict international capital flows during economic crises. This paper looks at the legal implications of these restrictions and explores the current international regulatory framework applicable to international capital movements and current payments. It shows how international capital flows suffer from the lack of a comprehensive and coherent regulatory framework that would harmonize the patchwork of multilateral, regional, and bilateral treaties that currently regulate this issue.

Suggested Citation

  • Lupo Pasini, Federico, 2012. "The International Regulatory Regime on Capital Flows and Trade in Services," ADBI Working Papers 338, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0338
    as

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    File URL: http://www.adbi.org/files/2011.12.30.wp338.intl.regulatory.capital.flows.trade.services.pdf
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    References listed on IDEAS

    as
    1. Ms. Natalia T. Tamirisa, 1999. "Trade in Financial Services and Capital Movements," IMF Working Papers 1999/089, International Monetary Fund.
    2. Schulze,Gunther G., 2010. "The Political Economy of Capital Controls," Cambridge Books, Cambridge University Press, number 9780521142854.
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    4. Schuknecht, Ludger, 1998. "A simple trade policy perspective on capital controls," WTO Staff Working Papers ERAD-98-11, World Trade Organization (WTO), Economic Research and Statistics Division.
    5. Williamson, J. & Drabek, Z., 1999. "Whether and When to Liberalize Capital Account and Financial Services," Papers 99-03, Stanford - Institute for Thoretical Economics.
    6. Mr. Brad J. McDonald & Mr. Geoffrey J Bannister & Ms. Natalia T. Tamirisa & Ms. Piritta Sorsa & Mr. Jaroslaw Wieczorek, 2000. "Trade Policy in Financial Services," IMF Working Papers 2000/031, International Monetary Fund.
    7. Masahiro Kawai & Mario B. Lamberte (ed.), 2010. "Managing Capital Flows," Books, Edward Elgar Publishing, number 13713.
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    9. Gerald Epstein, 2009. "Should Financial Flows Be Regulated? Yes," Working Papers 77, United Nations, Department of Economics and Social Affairs.
    10. Kono, Masamichi & Schuknecht, Ludger, 1999. "Financial services trade, capital flows, and financial stability," WTO Staff Working Papers ERAD-98-12, World Trade Organization (WTO), Economic Research and Statistics Division.
    11. Kevin P. Gallagher, 2010. "Policy Space to Prevent and Mitigate Financial Crises in Trade and Investment Agreements," G-24 Discussion Papers 58, United Nations Conference on Trade and Development.
    12. Christopher J. Neely, 1999. "An introduction to capital controls," Review, Federal Reserve Bank of St. Louis, vol. 81(Nov), pages 13-30.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    capital controls; exchange restrictions; international capital flows; economic crises;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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