Capital flow management with multiple instruments

dc.contributor.author	Acharya Viral V.
dc.contributor.author	Krishnamurthy, Arvind
dc.date.accessioned	2019-11-01T00:08:27Z
dc.date.available	2019-11-01T00:08:27Z
dc.date.issued	2019
dc.identifier.isbn	978-956-7421-60-2
dc.identifier.uri	https://hdl.handle.net/20.500.12580/3869
dc.description	Emerging markets (EMs) are affected by a global financial cycle originating in developed economies (Rey 2013). An increase in risk appetite of developed economies perhaps spurred by easy monetary policy leads to a surge in capital flows to EMs. These foreign capital flows especially foreign portfolio investments (FPI) in debt and equity markets (as against foreign direct equity investments or FDI) can reverse quickly thus leading to a sudden stop and a sharp macroeconomic slowdown. Managing this capital flow cycle is a central concern for EM governments (as discussed by De Gregorio 2010 and Ostry and others 2010) and is the focus of this paper.
dc.format	.pdf
dc.format.extent	Sección o Parte de un Documento
dc.format.medium	p. 169-203
dc.language.iso	eng
dc.publisher	Banco Central de Chile
dc.relation.ispartof	Series on Central Banking Analysis and Economic Policies no. 26
dc.rights	Attribution-NonCommercial-NoDerivs 3.0 Chile	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/cl/	*
dc.subject	MOVIMIENTOS DE CAPITAL	es_ES
dc.subject	INSTRUMENTOS FINANCIEROS	es_ES
dc.subject	POLÍTICA MONETARIA	es_ES
dc.title	Capital flow management with multiple instruments
dc.type.doc	Artículo
dc.file.name	BCCh-sbc-v26-p169_203

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