Capital-account and counter-cyclical prudential regulations in developing countries

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 93(6/2003)
cepal.callNumberLC/L.1820-P
cepal.docTypeSeries
cepal.idSade11888
cepal.jobNumberS0212984 E
cepal.projectProject on Capital Flows to Emerging Markets since the Asian Crisis
cepal.regionalOfficeSantiago
cepal.saleNumber03.II.G.23
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngBALANCE OF PAYMENTS
cepal.topicEngMACROECONOMICS
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaBALANZA DE PAGOS
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSTATISTICS
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaESTADÍSTICAS
dc.contributor.authorOcampo, José Antonio
dc.contributor.entityNU. CEPAL
dc.contributor.entityUNU. World Institute for Development Economics Research
dc.date.accessioned2014-01-02T16:51:59Z
dc.date.available2014-01-02T16:51:59Z
dc.date.issued2003-02
dc.descriptionIncludes bibliography
dc.description.abstractAbstract This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capital-account regulations can provide useful instruments in terms of both improving debt profiles and facilitating the adoption of (possibly temporary); counter-cyclical macroeconomic policies. Prudential regulation and supervision should take into account not only the microeconomic risks, but also the macroeconomic risks associated with boom-bust cycles. It should thus introduce counter-cyclical elements into prudential regulation and supervision, together with strict rules to prevent currency mismatches and reduce maturity mismatches. These instruments should be seen as a complement to counter-cyclical macroeconomic policies and, certainly, neither of them can nullify the risks that pro-cyclical macroeconomic policies may generate.
dc.formatTexto
dc.format.extent33 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211213924
dc.identifier.unSymbolLC/L.1820-P
dc.identifier.urihttps://hdl.handle.net/11362/7793
dc.language.isoeng
dc.physicalDescription33 p.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Informes y Estudios Especiales
dc.relation.isPartOfSeriesNo6
dc.rights.coarDisponible
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngDEVELOPING COUNTRIES
dc.subject.unbisEngECONOMIC POLICY
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngRULES AND REGULATIONS
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaPAISES EN DESARROLLO
dc.subject.unbisSpaPOLITICA ECONOMICA
dc.subject.unbisSpaREGLAS Y NORMAS
dc.titleCapital-account and counter-cyclical prudential regulations in developing countries
dc.type.coarlibro
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