Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs
Review of The Institutional View on The Liberalization and Management of Capital Flows — Background Note on Capital Flows and Capital Flow Management Measures — Benefits and Costs

Author: Gurnain Kaur Pasricha

Publisher: International Monetary Fund

Published: 2022-03-30

Total Pages: 23

ISBN-13:

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The Fund’s Institutional View (IV) recognizes the benefits of and risks associated with capital flows. Since the IV was adopted, a growing literature has provided additional insights into the benefits and risks from capital flows. This note summarizes the insights from the recent literature and the experiences of staff since the adoption of the IV that have informed this review.

Review of The Institutional View on The Liberalization and Management of Capital Flows
Review of The Institutional View on The Liberalization and Management of Capital Flows

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2022-03-30

Total Pages: 98

ISBN-13:

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The Institutional View (IV) on the Liberalization and Management of Capital Flows, adopted in 2012, provides the basis for consistent advice, and where relevant, assessments on policies related to capital flows. This paper reviews the IV, informed by advances in research, notably the work on an Integrated Policy Framework (IPF), the findings of the 2020 evaluation by the Independent Evaluation Office (IEO) on IMF Advice on Capital Flows, and staff’s experience with the implementation of the IV. The core premises and objectives of the IV remain unchanged. The IV rests on the premises that capital flows are desirable as they can bring substantial benefits for countries, and that capital flow management measures (CFMs) can be useful in certain circumstances but should not substitute for warranted macroeconomic adjustment. With those premises in mind, the IV aims to help countries reap the benefits of capital flows, while managing the associated risks in a way that preserves macroeconomic and financial stability and does not generate significant negative outward spillovers.

Integrated Policy Framework—Principles for the Use of Foreign Exchange Intervention
Integrated Policy Framework—Principles for the Use of Foreign Exchange Intervention

Author: International Monetary Fund. Monetary and Capital Markets Department

Publisher: International Monetary Fund

Published: 2023-12-21

Total Pages: 61

ISBN-13:

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This note guides policy advice on the use of foreign exchange intervention (FXI) as part of the Integrated Policy Framework (IPF) in Fund surveillance. The note provides general principles for the advice in countries with flexible exchange rates and sets out three use cases for FXI that are tied to specific frictions. It explores the use of FXI as part of an overall policy response, allowing the advice to differ with shocks, frictions, and country-specific circumstances.

Policy Responses to Capital Flows in Emerging Markets
Policy Responses to Capital Flows in Emerging Markets

Author: Mahmood Pradhan

Publisher: International Monetary Fund

Published: 2011-04-20

Total Pages: 45

ISBN-13: 1463935129

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Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Monetary Policy Challenges in Latin America
Monetary Policy Challenges in Latin America

Author: Fernando Toledo

Publisher: Edward Elgar Publishing

Published: 2023-10-06

Total Pages: 305

ISBN-13: 1802200703

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This ground-breaking book analyses the severe monetary policy challenges facing Latin American countries. Contributors reflect on how these issues should be addressed by policy-makers, identifying the need for a synergic response from regional central banks.

Toward an Integrated Policy Framework
Toward an Integrated Policy Framework

Author: International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Published: 2020-10-08

Total Pages: 54

ISBN-13: 9781513558769

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Policymakers often face difficult tradeoffs in pursuing domestic and external stabilization objectives. The paper reflects staff’s work to advance the understanding of the policy options and tradeoffs available to policymakers in a systematic and analytical way. The paper recognizes that the optimal path of the IPF tools depends on structural characteristics and fiscal policies. The operational implications of IPF findings require careful consideration. Developing safeguards to minimize the risk of inappropriate use of IPF policies will be essential. Staff remains guided by the Fund’s Institutional View (IV) on the Liberalization and Management of Capital Flows.

Capital Flows - Review of Experience with the Institutional View
Capital Flows - Review of Experience with the Institutional View

Author: International Monetary Fund. Legal Dept.

Publisher: International Monetary Fund

Published: 2016-07-11

Total Pages: 61

ISBN-13: 1498345050

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Capital flows are an important aspect of the international monetary system. They provide significant benefits, both direct and indirect. At the same time, they also carry risks, and a key challenge for countries is how to harness the benefits while managing the risks. The institutional view on the liberalization and management of capital flows provides the Fund with a basis for consistent advice on policies related to capital flows. This paper reviews countries’ experiences with handling capital flows in the period since the adoption of the IMF’s institutional view in 2012. Based on the experience, it identifies a few areas in which the view would benefit from further clarification or elaboration.

Sustainable Growth and Global Social Development in Competitive Economies
Sustainable Growth and Global Social Development in Competitive Economies

Author: Jean Vasile, Andrei

Publisher: IGI Global

Published: 2023-09-05

Total Pages: 355

ISBN-13: 1668488124

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In the process of transitioning to the New Normal model of society and economy, business models, development patterns, and structural transformations have started to become major instruments in creating the new reality. Creating the basic conditions and promoting the sustainable economic development criteria for contemporary communities needs not only a massive rearrangement of the classical structures but also a rethinking of the old economic paradigm to promote new business models and sustainable entrepreneurship. Sustainable Growth and Global Social Development in Competitive Economies fulfills a gap between theory and practice in the field of resilient economies, sustainable growth, and global social development in the New Normal. It also provides some holistic approaches regarding business models, development patterns, and transformations in the New Normal paradigm. Covering key topics such as globalization, business process modeling, and resource economics, this premier reference source is ideal for business owners, managers, government officials, policymakers, industry professionals, researchers, academicians, scholars, practitioners, instructors, and students.

Managing Capital Flows
Managing Capital Flows

Author: Masahiro Kawai

Publisher: Edward Elgar Publishing

Published: 2010-01-01

Total Pages: 465

ISBN-13: 184980687X

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Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

Staff Guidance Note on Macroprudential Policy
Staff Guidance Note on Macroprudential Policy

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2014-06-11

Total Pages: 45

ISBN-13: 1498342620

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This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries