Jump to ContentJump to Main Navigation
Reforming the International Financial System for Development$
Users without a subscription are not able to see the full content.

Jomo Kwame Sundaram

Print publication date: 2011

Print ISBN-13: 9780231157643

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231157643.001.0001

Show Summary Details
Page of

PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 02 July 2022

Should Financial Flows Be Regulated? Yes

Should Financial Flows Be Regulated? Yes

(p.194) 8 Should Financial Flows Be Regulated? Yes
Reforming the International Financial System for Development

Gerald Epstein

Columbia University Press

This chapter argues that policies to better manage international capital flows should be part of the government “toolkits” of monetary and financial policy in facing the difficult challenges arising from the global financial crisis. It first discusses the economic arguments for and against using capital controls, prudential regulations, and other “capital management techniques” to manage international financial flows. It then reviews empirical evidence on the impacts of such measures and the types of controls that governments can use to manage international capital flows, along with the costs, benefits, and effectiveness of different types of controls. It also considers the different policies countries have successfully implemented to achieve macroeconomic and financial stability, enhance policy space, and achieve other national development goals.

Keywords:   capital flows, monetary policy, financial policy, financial crisis, capital controls, prudential regulation, capital management techniques, financial flows, financial stability

Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .