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International Financial MarketsThe Challenge of Globalization$
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Leonardo Auernheimer

Print publication date: 2003

Print ISBN-13: 9780226032146

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226032153.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 28 September 2021

Capital Movements: Curse or Blessing?

Capital Movements: Curse or Blessing?

(p.79) Chapter Two Capital Movements: Curse or Blessing?
International Financial Markets

Michael P. Dooley

Carl E. Walsh

University of Chicago Press

This chapter examines the impact of capital movements on the international capital markets. It argues that controls over bank liabilities, such as regulation-Q ceilings on deposit interest rates in the United States, were effective prudential controls when the United States was an emerging market. This chapter suggests that there is an interesting relationship between domestic liberalization and the liberalization of international capital flows which include advantages in terms of resource allocation.

Keywords:   capital movements, capital markets, bank liabilities, regulation Q-ceilings, deposit interest rates, United States, prudential controls, domestic liberalization, capital flows, resource allocation

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