Arbeitspapier
Capital-account and counter-cyclical prudential regulations in developing countries
This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital-account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capitalaccount regulations can provide useful instruments in terms of both improving debt profiles and facilitating the adoption of (possibly temporary) counter-cyclical macroeconomic policies. Prudential regulation and supervision should take into account not only the microeconomic risks, but also the macroeconomic risks associated with boom-bust cycles. It should thus introduce counter-cyclical elements into prudential regulation and supervision, together with strict rules to prevent currency mismatches and reduce maturity mismatches. These instruments should be seen as a complement to counter-cyclical macroeconomic policies and, certainly, neither of them can nullify the risks that pro-cyclical macroeconomic policies may generate. – cycles ; capital flows ; prudential regulation ; counter-cyclical policies
- ISBN
-
9291902896
- Sprache
-
Englisch
- Erschienen in
-
Series: WIDER Discussion Paper ; No. 2002/82
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Current Account Adjustment; Short-term Capital Movements
Open Economy Macroeconomics
Macroeconomic Analyses of Economic Development
- Thema
-
Kapitalbilanz
Kapitalverkehrspolitik
Finanzintermediär
Regulierung
Entwicklungsländer
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ocampo, José Antonio
- Ereignis
-
Veröffentlichung
- (wer)
-
The United Nations University World Institute for Development Economics Research (UNU-WIDER)
- (wo)
-
Helsinki
- (wann)
-
2002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Ocampo, José Antonio
- The United Nations University World Institute for Development Economics Research (UNU-WIDER)
Entstanden
- 2002
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