Controlling The Capital

Author : Sebastian Edwards
Publisher : University of Chicago Press
ISBN 13 : 0226184994
Total Pages : 699 pages
Book Rating : 4.99/5 ( download)

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Download or read book Capital Controls and Capital Flows in Emerging Economies written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2009-02-15 with total page 699 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability. This volume is essential reading for all those interested in emerging nations and the costs and benefits of restricting international capital flows.

Author : Mr.Atish R. Ghosh
Publisher : International Monetary Fund
ISBN 13 : 1498333222
Total Pages : 45 pages
Book Rating : 4.21/5 ( download)

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Download or read book What’s In a Name? That Which We Call Capital Controls written by Mr.Atish R. Ghosh and published by International Monetary Fund. This book was released on 2016-02-12 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates why controls on capital inflows have a bad name, and evoke such visceral opposition, by tracing how capital controls have been used and perceived, since the late nineteenth century. While advanced countries often employed capital controls to tame speculative inflows during the last century, we conjecture that several factors undermined their subsequent use as prudential tools. First, it appears that inflow controls became inextricably linked with outflow controls. The latter have typically been more pervasive, more stringent, and more linked to autocratic regimes, failed macroeconomic policies, and financial crisis—inflow controls are thus damned by this “guilt by association.” Second, capital account restrictions often tend to be associated with current account restrictions. As countries aspired to achieve greater trade integration, capital controls came to be viewed as incompatible with free trade. Third, as policy activism of the 1970s gave way to the free market ideology of the 1980s and 1990s, the use of capital controls, even on inflows and for prudential purposes, fell into disrepute.

Author : Nicholas Dorn
Publisher : Routledge
ISBN 13 : 9781138570078
Total Pages : 0 pages
Book Rating : 4.79/5 ( download)

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Download or read book Controlling Capital written by Nicholas Dorn and published by Routledge. This book was released on 2017-09-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines pressing issues in financial market regulation, in the face of continuing systemic concerns and widespread wrongdoing in financial markets. Contributors explore how public and private tendencies are evolving, how they might work together, and their relation to policies in the European Union, the United States and internationally.

Author : Tom Goodfellow
Publisher : Oxford University Press
ISBN 13 : 0192694480
Total Pages : 289 pages
Book Rating : 4.85/5 ( download)

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Download or read book Controlling the Capital written by Tom Goodfellow and published by Oxford University Press. This book was released on 2023-09-07 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 international license. It is free to read on Oxford Academic and offered as a free PDF download from OUP and selected open access locations. Authoritarianism is on the rise globally, with more than twice as many countries experiencing democratic decline as democratic enhancement in recent years. This has been occurring simultaneously with unprecedented rates of urbanization in many parts of the world, raising questions about the role of cities - often considered the focal points of democratic deepening - in this authoritarian turn. While most literature considers authoritarianism on the national scale, the chapters in this book train their gaze on capital cities, which as 'containers' of both capital and sovereignty are spaces in which authoritarian dominance is increasingly built, contested, maintained, and undone. Focusing on some of the world's fastest urbanizing regions - Sub-Saharan Africa and South Asia - the book explores the multiple ways in which authoritarian regimes have been attempting to build and sustain long-term dominance in capital cities in order to meet the challenge of urban political resistance. The diverse selection of case studies presented here spans governing regimes that have recently tried to build urban dominance and spectacularly failed, as well as those that have managed to hold onto power by constantly evolving strategies for dominance that limit the potential for urban opposition to tip into regime overthrow. With chapters on Addis Ababa, Colombo, Dhaka, Harare, Kampala, and Lusaka, Controlling the Capital offers the first cross-regional comparative study of the relationship between cities and political dominance. It contributes to debates on authoritarianism and authoritarian durability, urbanization, political contestation and resistance, the politics of development, and the prospects for democracy.

Author : Gurnain Kaur Pasricha
Publisher : International Monetary Fund
ISBN 13 : 1513546104
Total Pages : 60 pages
Book Rating : 4.00/5 ( download)

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Download or read book Estimated Policy Rules for Capital Controls written by Gurnain Kaur Pasricha and published by International Monetary Fund. This book was released on 2020-06-05 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this question using a novel, weekly dataset on capital control actions in 21 emerging economies from 2001 to 2015. I introduce a new proxy for mercantilist motivations: the weighted appreciation of an emerging-market currency against its top five trade competitors. This proxy Granger causes future net initiations of non-tariff barriers in most countries. Emerging markets systematically respond to both mercantilist and macroprudential motivations. Policymakers respond to trade competitiveness concerns by using both instruments—inflow tightening and outflow easing. They use only inflow tightening in response to macroprudential concerns. Policy is acyclical to foreign debt; however, high levels of this debt reduces countercyclicality to mercantilist concerns. Higher exchange rate pass-through to export prices, and having an inflation targeting regime with non-freely floating exchange rates, increase responsiveness to mercantilist concerns.

Author : Katharina Pistor
Publisher : Princeton University Press
ISBN 13 : 0691208603
Total Pages : 315 pages
Book Rating : 4.02/5 ( download)

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Download or read book The Code of Capital written by Katharina Pistor and published by Princeton University Press. This book was released on 2020-11-03 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital - and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations--assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it."--Provided by publisher.

Author : Rawi Abdelal
Publisher : Harvard University Press
ISBN 13 : 0674034554
Total Pages : 250 pages
Book Rating : 4.56/5 ( download)

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Download or read book Capital Rules written by Rawi Abdelal and published by Harvard University Press. This book was released on 2009-09-30 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The rise of global financial markets in the last decades of the twentieth century was premised on one fundamental idea: that capital ought to flow across country borders with minimal restriction and regulation. Freedom for capital movements became the new orthodoxy. In an intellectual, legal, and political history of financial globalization, Rawi Abdelal shows that this was not always the case. Transactions routinely executed by bankers, managers, and investors during the 1990s—trading foreign stocks and bonds, borrowing in foreign currencies—had been illegal in many countries only decades, and sometimes just a year or two, earlier. How and why did the world shift from an orthodoxy of free capital movements in 1914 to an orthodoxy of capital controls in 1944 and then back again by 1994? How have such standards of appropriate behavior been codified and transmitted internationally? Contrary to conventional accounts, Abdelal argues that neither the U.S. Treasury nor Wall Street bankers have preferred or promoted multilateral, liberal rules for global finance. Instead, European policy makers conceived and promoted the liberal rules that compose the international financial architecture. Whereas U.S. policy makers have tended to embrace unilateral, ad hoc globalization, French and European policy makers have promoted a rule-based, “managed” globalization. This contest over the character of globalization continues today."

Author : Masahiro Kawai
Publisher : Edward Elgar Publishing
ISBN 13 : 184980687X
Total Pages : 465 pages
Book Rating : 4.79/5 ( download)

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Download or read book Managing Capital Flows written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

Author : Eugenia Andreasen
Publisher : International Monetary Fund
ISBN 13 : 1484303318
Total Pages : 26 pages
Book Rating : 4.13/5 ( download)

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Download or read book Capital Controls and the Cost of Debt written by Eugenia Andreasen and published by International Monetary Fund. This book was released on 2017-06-09 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. A number of heterogeneities suggest that the effect of capital controls on inflows is particularly strong for more financially constrained firms, establishing a novel channel through which capital controls affect economic outcomes. By contrast, we do not find a robust significant effect of restrictions on outflows.

Author : John W. Hackney
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 576 pages
Book Rating : 4.19/5 ( download)

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Download or read book Control and Management of Capital Projects written by John W. Hackney and published by McGraw-Hill Companies. This book was released on 1992 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: