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Korea's Macroprudential Policies for Capital Flows: Accomplishments and Road to Improvement

Author

Listed:
  • An, Sungbae

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Kang, Tae Soo

    (Korea Advanced Institute of Science and Technology (KAIST))

  • Kim, Kyunghun

    (Hongik University)

  • Kang, Eunjung

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

Abstract

In 2010, Korea's authorities announced foreign exchange-related macroprudential measures (MPMs) aimed at building resilience against external financial shocks. These measures have greatly contributed to limit systemic risk by curbing excessive capital inflows. Twelve years have passed since the global financial crisis started and ten years after the introduction of Korea's FX-related macro-prudential policy measures. Accordingly, this study check the performance and effectiveness of these policies and discuss how to improve macroprudential measures in response to emerging external risks.

Suggested Citation

  • An, Sungbae & Kang, Tae Soo & Kim, Kyunghun & Kang, Eunjung, 2021. "Korea's Macroprudential Policies for Capital Flows: Accomplishments and Road to Improvement," World Economy Brief 21-6, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2021_006
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    Keywords

    Korea; capital flow; macroprudential; policy; risk;
    All these keywords.

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