This volume contains country experiences explained by policy makers and studies by leading experts on causes and consequences of capital flows as well as policies to control these flows. It addresses portfolio flow issues central to open economies, especially emerging markets.
Table of Content
Introduction PART I: COUNTRY EXPERIENCES 1.1 Peru: Paul Castillo 1.2 Turkey: Erdem Ba?ç? 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
About the author
Yasin Akçelik, Central Bank for the Republic of Turkey Erdem Ba?ç?, Central Bank for the Republic of Turkey Brittany A. Baumann, Boston University, USA Paul Castillo, Central Bank of Peru Ergun Ermi?o?lu, Central Bank for the Republic of Turkey Kevin P. Gallagher, Boston University, USA Refet Gurkaynak, Bilkent University, Turkey Arif Oduncu, Central Bank for the Republic of Turkey Jonathan D. Ostry, International Monetary Fund Joseph Stiglitz, Columbia University, USA Ming Zhang, Boston University, USA