Product Description
The treatment of the capital account of the balance of payments has emerged as a major policy question. As global private capital flows to the developing countries in unprecedented amounts, it brings not only benefits but also potential problems. Some of the current rules of the International Monetary Fund are generally considered anachronistic, but there remains disagreement as to the character of a new international regime for private capital. This book is an up-to-date account of the principal policy issues surrounding the treatment of international capital flows in the developing countries. It considers experience in Asia, Latin America and Sub-Saharan Africa, the role of the International Monetary Fund and other financial institutions, as well as possible alternative regimes for the international capital account.
Book Description
The treatment of the capital account of the balance of payments has emerged as a major policy question. As global private capital flows to the developing countries in unprecedented amounts, it brings not only benefits but also potential problems. Some of the current rules of the International Monetary Fund are generally considered anachronistic, but there remains disagreement as to the character of a new international regime for private capital. This book is an up-to-date account of the principal policy issues surrounding the treatment of international capital flows in the developing countries. It considers experience in Asia, Latin America and Sub-Saharan Africa, the role of the International Monetary Fund and other financial institutions, as well as possible alternative regimes for the international capital account.
