| Description |
1 online resource (40 pages) : illustrations (some color), tables, graphs |
|
text file |
| Series |
IMF Working Papers.
|
| Summary |
This paper examines whether-and how-emerging market economies (EMEs) respond to capital flows to mitigate their untoward consequences. Based on a sample of about 50 EMEs over 2005Q1-2013Q4, we find that EME policy makers respond proactively to capital inflows by using a combination of policy tools: central banks raise the policy interest rate to address economic overheating concerns; intervene in the foreign exchange market to resist currency appreciation pressures; tighten macroprudential measures to dampen credit growth; and deploy capital inflow controls in the face of competitiveness and financial-stability concerns. Contrary to conventional policy advice to EMEs, we find no evidence of counter-cyclical fiscal policy in the face of capital inflows. Overall, policies are more likely to respond, and used in combination, during inflow surges than in more normal times. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Capital movements.
|
|
Capital movements. |
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Monetary policy.
|
|
Monetary policy. |
| Genre/Form |
Electronic books.
|
| Added Author |
Ostry, Jonathan D., author.
|
|
Qureshi, Mahvash S., author.
|
| Other Form: |
Print version: Ghosh, Atish R. Managing the Tide: How Do Emerging Markets Respond to Capital Flows? Washington, D.C. : International Monetary Fund,2017 9781475589207 |
| ISBN |
1475589298 (electronic book) |
|
9781475589290 (electronic book) |
|
1475589204 |
|
9781475589207 |
| Standard No. |
10.5089/9781475589207.001 |
|
