본문 바로가기
KERD
논문KCI 등재

Capital Control as a Safeguard in the Capital Account Crisis

0

조회

0

다운로드

0

인용

0

참고문헌

주제분류경제학

초록

Abstract

Many emerging market economies suffered from financial crisis mainly caused by capital account imbalances. Main recommendations for preventing crises were to keep the house clean, maintain transparency and good governance, and sound management of macroeconomic policies. It is observed that in the area of finance there is no safeguard measure, whereas in the area of trade there are a few; while the current account imbalances have less severe effects than the capital account imbalances. Thereupon, it is suggested that at least a safeguard measure can be introduced in the area of finance, and capital control is suggested as an emergency safeguard.

참고문헌 (20)

  1. Economist, "A Survey of Global Finance" (1999)
  2. Edwards, S, "Exchange Rate Regimes, Capital Flows and Crisis Prevention" (2000)
  3. Eichengreen, B, ".Toward a New International Financial Architecture:A Practical Post-Asia Agenda" (1999), The Institute for International Economics
  4. Feldstein, M, "Self-Protection for Emerging Market Economies" (1999)
  5. Frankel, J, "The Role of Industrial Country Policies in Emerging Market Crisis" (2000)
  6. Garten, J, "In This Economic Chaos, A Global Central Bank Can Help" (1998)
  7. Gelos, R. G, "Transparency and International Investor Behavior", 9260 (2002)
  8. Griffith-Jones, S, "Regulatory Challenges for Source Countries of Surge in Capital Flows" (1998)
  9. "IMF Economic Forum. Capital Account Liberalization: What Is the Best Stance?" (1998)
  10. Kaufman, H, "Preventing the Next Global Financial Crisis" (1998)
  11. Krugman, P, "Saving Asia: It's Time to Get Radical", pp.74~80 (1998)
  12. Meltzer, Allen H, "Asian Problems and the IMF", 17(3) (1999)
  13. Obstfeld, M, "Globalization and Capital Markets", (w8846) (2002)
  14. Ortiz, G, "Recent Emerging Market Crisis" (2002)
  15. Sachs, J, "Do We Need an International Lender of Last Resort?" (1995), Princeton University
  16. Schmidt, R, "Efficient Capital Controls" (2000), International Development Research Center
  17. UNCTAD, "Trade and Development Report" (2001)
  18. Velasco,A, "Exchange Rate Policy in Emerging Markets" (2001)
  19. "The Working Group on Transparency and Accountability, The Working Group On Strengthening Financial System, The Working Group on Financial Crises" (1998)
  20. Wyplosz, C, "Globalized Financial Markets and Financial Crises" (1998)

관련 논문AI추천

이 간행물의 다른 논문 (4건)