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Capital Mobility, Exchange Rates And Economic Crises |
George Fane, Senior Fellow, Department of Economics, Research School of Pacific and Asian Studies, Australian National University, Australia
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| 2000 |
240 pp |
Hardback |
978 1 85898 784 2 |
£74.00 |
on-line discount
£66.60 |
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| 2003 |
240 pp |
Paperback |
978 1 84376 473 1 |
£28.50 |
on-line discount
£22.80 |
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‘This excellent book deals not only with capital market liberalization, capital controls, and recent crises, but also with the implications of international capital mobility for monetary and exchange rate policies, and for reform of the “international architecture”. On the basis of Fane’s specialist knowledge it is particularly informative on capital market and exchange rate policies in East Asian developing economies. Fane analyzes highly topical subjects and recent events in a very clear, accessible way. The book can be strongly recommended both as a university text and as a reference for all interested in international financial markets.’
– W. Max Corden, Johns Hopkins University, US
Recent crises in emerging markets have raised doubts about the desirability of relaxing controls on capital mobility. George Fane, however, uses evidence from the crises in Asia and Latin America to reassert the traditional case that such controls are an excessively blunt instrument for achieving financial stability.
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Contents: Preface 1. Introduction 2. Capital Controls and Exchange Controls 3. Capital Controls and Crisis Prevention: Four Case Studies 4. First and Second- Best Arguments for Capital Controls 5. Speculative Crises, Default and Contagion 6. Banks, Moral Hazard and Prudential Regulations 7. Monetary and Exchange Rate Policies 8. The Credibility of Monetary and Exchange Rate Policies 9. Reforming the International Financial Architecture References Index
View the author's website at
http://economics.anu.edu.au/staff/staffpages/fane/fane.html
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