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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...
Persistent link: https://www.econbiz.de/10015060528
After narrowing modestly in 2013, the global scale of current account imbalances, and of excess imbalances, held steady in 2014. Over the last several years, while the country composition of imbalances has rotated somewhat, overall there has been little progress on reducing excess imbalances....
Persistent link: https://www.econbiz.de/10014408543
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...
Persistent link: https://www.econbiz.de/10014408595
, heightened global risk aversion, contributed to softer capital inflows and depreciation pressures in many EMs. This moderate …
Persistent link: https://www.econbiz.de/10014408606
systemic financial risk. Benefits, such as enhanced investment and consumption smoothing, tend to be greater for countries … national level, robust macroprudential policy frameworks focused on mitigating systemic risk can improve the capacity of a … and to reduce systemic financial risk stemming from such flows (CFM/MPMs), and thereby ensure the appropriate application …
Persistent link: https://www.econbiz.de/10014408642
Persistent link: https://www.econbiz.de/10014408670
Global current account imbalances were broadly unchanged in 2016, with minor shifts adding to the reconfiguration under way since 2013. The fall in commodity prices, uneven cyclical recoveries in systemic economies, and differences in policy responses contributed to the rotation of imbalances....
Persistent link: https://www.econbiz.de/10014408676
Capital flows have increased significantly in recent years and are a key aspect of the global monetary system. They offer potential benefits to countries, but their size and volatility can also pose policy challenges. The Fund needs to be in a position to provide clear and consistent advice with...
Persistent link: https://www.econbiz.de/10014410311
The case studies document the regulatory and supervisory dimension of episodes during the recent crisis involving capital flows that generated systemic stress. Source country regulation and supervision is the main focus, although recipient country policies also were important in some cases and...
Persistent link: https://www.econbiz.de/10014410356
international asset positions now dwarfing output, global portfolio allocations and reallocations have profound effects on the world …
Persistent link: https://www.econbiz.de/10014410409