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Taming Capital Flows: Capital Account Management in an Era of Globalization

Editat de Joseph E. Stiglitz, Refet S. Gurkaynak
en Limba Engleză Electronic book text – 4 mai 2015

Capital flows, especially in the form of hot money flows, pose an important problem for many countries. There are many similarities in causes of capital flows to emerging economies but policy responses differ.

This timely volume presents country experiences with capital flows and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. Providing a mixture of empirical and theoretical studies of the issue and detailed country studies for Brazil, Chile, Peru, and Turkey, this volume of collected essays covers the most important aspects of the debate on capital flows in an accessible manner.

Taming Capital Flows provides an in-depth analysis of capital flows in emerging markets, and makes essential reading for researchers and scholars interested in development economics, finance and international trade.

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Specificații

ISBN-13: 9781137427687
ISBN-10: 113742768X
Pagini: 216
Ilustrații: 22 b/w tables, 48 figures
Ediția:
Editura: Palgrave MacMillan
Colecția Palgrave Pivot
Locul publicării:Basingstoke, United Kingdom

Cuprins

Introduction

PART I: COUNTRY EXPERIENCES
1.1 Peru: Paul Castillo
1.2 Turkey: Erdem Başçı
PART II: RECENT TRENDS IN CURRENCY FLOWS
2.1 China's short-term capital flow: the scale and the driving forces. Ming Zhang
2.2 Appropriate Policy Tools to Manage Portfolio Flow Externalities. Refet Gürkaynak
2.3 Navigating Capital Flows in Brazil and Chile. Kevin Gallagher
PART III: EFFECTS AND MULTILATERAL ASPECTS OF CURRENCY FLOWS
3.1 Monetary Policy in a Multipolar World. Joseph Stiglitz
3.2 Multilateral Aspects of Managing the Capital. Account Jonathan Ostry


Notă biografică

Joseph E. Stiglitz is University Professor at Columbia University, USA, the winner of the 2001 Nobel Memorial Prize in Economics, and a lead author of the 1995 IPCC report, which shared the 2007 Nobel Peace Prize. He was chairman of the U.S. Council of Economic Advisors under President Clinton and Chief Economist and Senior Vice President of the World Bank for 1997-2000. Stiglitz received the John Bates Clark Medal, awarded annually to the American economist under 40 who has made the most significant contribution to the subject. He was a Fulbright Scholar at Cambridge University, UK, held the Drummond Professorship at All Souls College, Oxford, UK, and has also taught at M.I.T, Yale, Stanford and Princeton.

Refet Gürkaynak is Associate Professor of Economics at Bilkent University, Turkey and a CEPR Research Fellow. Prior to his current position he was an economist at the Monetary Affairs Division of the Federal Reserve Board. He does research and lectures internationally at universities and central banks on monetary policy and financial markets.