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