Recent initiatives to improve the regulation and supervision of private capital flows
BIS Working Papers
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No
92
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02 October 2000
In this paper, an attempt is made to put the changing attitudes of policymakers
towards international capital flows into a broader economic and historical
context. The paper then goes on to suggest that policymakers today wish, on the
one hand, to achieve the benefits of freer capital flows while trying to
minimise the risks they pose on the other. Various suggestions for achieving
the second objective are then critically evaluated. While most seem to have
merit, no single suggestion would seem sufficient in itself to avoid all
problems. As in many areas having to do with crisis prevention, incremental
progress across a broad front would seem warranted.