Open Access
La liberalización y el manejo de los flujos de capital: una visión institucional
Vivek B. Arora,Karl Habermeier,Jonathan Ostry,Rhoda Weeks-Brown +3 more
- Vol. 15, Iss: 28, pp 205-255
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TLDR
In 2011, el Comite Monetario y Financiero Internacional llamo a “seguir trabajando en un enfoque integral, flexible, and equilibrado for el manejo de los flujos de capital” as mentioned in this paper.Abstract:
Los flujos de capital han aumentado notablemente en los ultimos anos y son un aspecto clave del sistema monetario mundial. Ofrecen beneficios potenciales a los paises, pero su tamano y su volatilidad tambien pueden plantear problemas de politica. El Fondo debe estar en condiciones de proporcionar asesoria clara y coherente respecto de los flujos de capital y las politicas relacionadas. En 2011, el Comite Monetario y Financiero Internacional llamo a “seguir trabajando en un enfoque integral, flexible y equilibrado para el manejo de los flujos de capital”. En este documento se propone una vision institucional que apoye este enfoque, con base en documentos de politica anteriores, estudios analiticos y discusiones de la Junta sobre los flujos de capital.read more
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Macro-Prudential Policies to Mitigate Financial System Vulnerabilities
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References
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The Twin Crises: The Causes of Banking and Balance-Of-Payments Problems
TL;DR: The authors analyzes the links between banking and currency crises and finds that problems in the banking sector typically precede a currency crisis, activating a vicious spiral; financial liberalization often precedes banking crises.
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The twin crises: the causes of banking and balance-of-payments problems
TL;DR: This paper examined the potential links between banking and balance-of-payments crises and found that financial liberalization usually predates banking crises, indeed, it helps predict them, rather than a causal relationship from banking to balance of payments crises.
Posted Content
Finance and Growth: Theory and Evidence
TL;DR: This article reviewed, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth, concluding that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship.
Journal ArticleDOI
Currency crashes in emerging markets: An empirical treatment
TL;DR: The authors defined a currency crash as a large change of the nominal exchange rate that is also a substantial increase in the rate of change of nominal depreciation, and used a panel of annual data for over 100 developing countries from 1971 through 1992 to characterize currency crashes.
Journal ArticleDOI
What Matters for Financial Development? Capital Controls, Institutions, and Interactions
Menzie D. Chinn,Hiro Ito +1 more
TL;DR: In this article, the authors investigate whether financial openness leads to financial development after controlling for the level of legal development using a panel encompassing 108 countries over the period 1980 to 2000, and find that trade openness is a prerequisite for capital account liberalization while banking system development is a precondition for equity market development.