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Capital Controls and Capital Flows in Emerging Economies
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Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences

Sebastian Edwards

Abstract

Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. This book 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, this book considers 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.

Keywords: free movement, macroeconomic vulnerability, borders, welfare, emerging nations, capital mobility, East Asia, currency crises, capital inflows

Bibliographic Information

Print publication date: 2007 Print ISBN-13: 9780226184975
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226184999.001.0001

Authors

Affiliations are at time of print publication.

Sebastian Edwards, editor

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