Capital mobility, exchange rates and economic crises
Recent crises in emerging markets have raised doubts about the desirability of relaxing controls on capital mobility. George Fane, however, uses evidence from the crises in Asia and Latin America to reassert the traditional case that such controls are an excessively blunt instrument for achieving financial stability. This book argues that recent official proposals for reforming the "international architecture" are also unlikely to reduce the frequency of currency and financial crises to an acceptable level. The author proposes an alternative plan to achieve greater financial stability, and that the implementation of this plan will be a far more effective way of enhancing financial stability than controlling international capital flows, or trying to force private lenders to make new loans to countries that suffer crises.
- 出版社
- E. Elgar
- 発売日
- 2000-01-01
- ISBN
- 9781858987842