• ISBN13: 9780199453344
• Binding: Hardcover
• Subject: Economics
• Publisher: Oxford UP
• Publisher Imprint: Oxford UP
• Publication Date: June 15, 2014
• Pages: 320
• Original Price: INR 995.0
• Language: English
• Edition: N/A
• Item Weight: 500 grams
• BISAC Subject(s): Finance / General

Volatility in capital flows has increased significantly in recent years, particularly since the global financial crisis of 2008, making capital flow management one of the biggest challenges facing emerging market economies. How successful were these countries in managing their capital flows in the face of volatile global capital flows during 2003-12? And how effective were policymakers in stemming the fallout on the economies of these countries? The essays by eminent contributors compare and contrast the theoretical paradigm and empirical evidence on merits of capital account liberalization and the role of capital account management. With special focus on emerging market economies, the debates focus on ways to attract larger flows of capital to finance investment while safeguarding macro-management and averting sudden stops, flight to quality and the resultant destabilizing forces to the economy. Bringing together the perspectives of academics and researchers on the one hand and central bankers on the other, this volume offers a deeper understanding of capital account management which has remained one of the most debated topics among policymakers in the past decade. Key Features: There are relatively few books on this topic and nothing of any significance relating to India. The concept is very relevant and topical, the publication will evoke a lot of interest. Not much has been written on managing capital flows in India, this book would appeal to a large audience. In light of increasing current account deficit in India and associated large depreciation of the rupee, the timing for a book like this is opportune.

Bruno Carrasco, Director of South Asia Public Management, Financial Sector and Trade Division (SAPF), Asian Development Bank (ADB), Hiranya Mukhopadhyay, Senior Public Management Economist, Asian Development Bank (ADB), Subir Gokarn, Senior Fellow and Director of Research, Brookings India

Mary Elizabeth King is Professor of peace and conflict studies for the UN-affiliated University for Peace, main campus Costa Rica; Distinguished Fellow at the Rothermere American Institute, University of Oxford, Britain; Scholar-in-Residence, Center for Peacebuilding and Development, School of International Service, American University, Washington, DC.