Regulating capital flows to emerging markets: Design and implementation issues (original) (raw)

2010

Abstract

Capital flows to emerging markets are controversial territory. This column argues that they create externalities that make the recipient economies more vulnerable to financial fragility and crises. It adds that policymakers can make their economies better off by regulating and discouraging the use of risky forms of external finance���in particular short-term dollar-denominated debts.

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