Financial globalisation, exchange rates and capital controls in developing countries
Vol:
2003/19
Year:
2003
Month:
August
Abstract:
This paper argues that (i) for many developing countries, the optimal external payments regime would be a combination of an intermediate exchange rate with capital controls and (ii) the policy stance and advice of the IMF should reflect this view. The paper uses India as a case-study to illustrate its argument.
Publication file:
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