limited monetary independence. Capital flight crises added financial stability to trilemma's policy goals. New policies were …

The purpose of this paper is to explain the reluctance of developing countries to open up their capital market to … initially by a one-sided openness to the capital market where domestic agents can borrow internationally, but foreign agents …

Using a novel data set on capital control actions in 17 emerging-market economies (EMEs) over the period 2001 - 11, we … provide new evidence on domestic and multilateral (or spillover) effects of capital controls. Our results, based on panel … vector autoregressions, suggest that capital control actions had limited impact on the variables of the monetary policy …

This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange …