Cover Capital Controls
Capital Controls
Country Experiences with Their Use and Liberalization
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Abstract

This paper examines country experiences with the use and liberalization of capital controls to develop a deeper understanding of the role of capital controls in coping with volatile capital flows, as well as the issues surrounding their liberalization. Detailed analyses of country cases aim to shed light on the motivations to limit capital flows; the role the controls may have played in coping with particular situations, including in financial crises and in limiting short-term inflows; the nature and design of the controls; and their effectivenes and potential costs. The paper also examines the link between prudential policies and capital controls and illstrates the ways in which better prudential practices and accelerated financial reforms could address the risks in cross-border capital transactions.

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Author:
Mr. Akira Ariyoshi
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Mr. Andrei A Kirilenko
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Ms. Inci Ötker https://isni.org/isni/0000000404811396 International Monetary Fund

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Mr. Bernard J Laurens
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Mr. Jorge I Canales Kriljenko
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Mr. Karl F Habermeier
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Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
17 May 2000
DOI:
https://doi.org/10.5089/9781557758743.084
ISBN:
9781557758743
ISSN:
0251-6365
Pages:
123
Keywords:
OP; control; capital; liberalization; market; interest rate; market participant; exchange control regime; liberalization program; control measure; current account transaction; a number of policy instrument; Capital controls; Capital inflows; Capital flows; Exchange rates; Global; Asia and Pacific; Capital outflows; Caribbean
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.
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