This paper reviews the rapidly growing empirical literature on the drivers of capital flows to
emerging markets. The empirical evidence is structured based on the recognition that the …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to
financial regulation and supervision. As a consequence, the number of policy speeches …

We present and describe a new dataset of capital control restrictions on both inflows and
outflows of ten categories of assets for 100 countries over the period 1995 to 2013. Building …

We examine the determinants of net private capital inflows to emerging market economies
(EMEs) since 2002. Our main findings are: First, growth and interest rate differentials …

This paper analyzes the role of real exchange rate (RER) policies in promoting economic
development. Markets provide a suboptimal amount of investment in sectors characterized …

This paper provides a comparative assessment of the effectiveness of macroprudential
policies in 12 Asia-Pacific economies over 2004–2013, using databases of domestic …

This paper examines the claim that exchange rate regimes are of little salience in the
transmission of global financial conditions to domestic financial and macroeconomic …

At the height of the Great Depression a number of leading US economists advanced a
proposal for monetary reform that became known as the Chicago Plan. It envisaged the …

The “middle-income trap” is the phenomenon of hitherto rapidly growing economies
stagnating at middle-income levels and failing to graduate into the ranks of high-income …

In recent years, the International Monetary Fund (IMF) has re-emerged as a central actor in
global economic governance. Its rhetoric and policies suggest that the organization has …