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Mr. Jeromin Zettelmeyer

What are the prospects for East Asian monetary integration? A high-level conference on September 5-6 at Chulalongkorn University, Bangkok, provided a venue for two dozen distinguished speakers and discussants to examine the range of policy options. The conference, organized in cooperation with the universities of Paris-Dauphine and Mannheim and commemorating the thirtieth anniversary of Chulalongkorn’s Faculty of Economics, drew approximately one hundred participants from academic, business, and policymaking communities as well as a large number of Chulalongkorn students.

Robert E. Baldwin, Richard H. Snape, Rudiger Dornbusch, Timothy D. Lane, Mr. Guillermo Calvo, Charles P. Kindleberger, Bahram Nowzad, Sanjaya Lall, Carl Dahlman, Geza Feketekuty, Patrick A. Messerlin, Robert B. Dickie, Thomas A. Layman, Lloyd Kenward, Mr. David P. Currie, Mr. David A Vines, and F. Desmond McCarthy

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Mr. Owen Evens and Peter J. Quirk


The paper summarizes the main issues arising from experiences of industrial and developing countries with capital account liberalization and it examines the IMF's treatment of capital controls in its surveillance, use of IMF resources, and technical assistance activities. Case studies of recent experiences with capital controls in Chile, Colombia, Malaysia, and Venezuela are presented.