Chapter

Capital Movements: Curse or Blessing?

Michael P. Dooley and Carl E. Walsh

in International Financial Markets

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226032146
Published online February 2013 | e-ISBN: 9780226032153 | DOI: http://dx.doi.org/10.7208/chicago/9780226032153.003.0003
Capital Movements: Curse or Blessing?

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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

Chapter.  9551 words.  Illustrated.

Subjects: International Economics

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