Sebastian Edwards

in Capital Controls and Capital Flows in Emerging Economies

Published by University of Chicago Press

Published in print May 2007 | ISBN: 9780226184975
Published online February 2013 | e-ISBN: 9780226184999 | DOI:

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This book investigates the mechanisms that different countries have used to slow down, or control, capital inflows, and in particular capital inflows associated with fixed income securities. It assesses whether the tools chosen by different countries were effective in decreasing the flow of capital, altering the maturity of the resulting external debt, and reducing macroeconomic vulnerability. Part One of this book deals with systemic issues related to capital mobility, with an emphasis on fixed income securities. It also describes the analytical and theoretical issues and presents cross-country evidence on the effectiveness, consequences, and costs of restricting capital mobility. Part Two provides eight country case studies, for Chile, Brazil, Argentina, South Korea, Malaysia, China, Singapore, and India, and a broad paper that evaluates, from a comparative perspective, the effects of capital controls on economic performance. An overview of the chapters included in this book is also given.

Keywords: capital inflows; fixed income securities; macroeconomic vulnerability; capital mobility; Brazil; Argentina; South Korea; Malaysia; China; Singapore

Chapter.  6775 words. 

Subjects: Macroeconomics and Monetary Economics

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