Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis

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cepal.articleNo11
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/G.2676-P
cepal.docTypeRevistas
cepal.jelCodeF36
cepal.jelCodeF41
cepal.jobNumberRVI118_Magalhaes
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.topicEngBALANCE OF PAYMENTS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngFINANCING AND EXTERNAL DEBT
cepal.topicEngMACROECONOMICS
cepal.topicSpaBALANZA DE PAGOS
cepal.topicSpaFINANCIAMIENTO Y DEUDA EXTERNA
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorPrates, Daniela Magalhães
dc.contributor.authorFritz, Barbara
dc.coverage.spatialEngBRAZIL
dc.coverage.spatialEngREPUBLIC OF KOREA
dc.coverage.spatialSpaBRASIL
dc.coverage.spatialSpaREPUBLICA DE COREA
dc.date.accessioned2016-08-09T16:20:01Z
dc.date.available2016-08-09T16:20:01Z
dc.date.issued2016-04
dc.description.abstractWithin the management of capital flows, some emerging economies have been facing economic policy dilemmas after the global financial crisis, related to financial instrument operations, in a context of abundant liquidity in the advanced economies. However, neither the academic literature nor the financial institutions have paid sufficient attention to foreign currency (FX) derivatives regulation in emerging economies. This paper analyses the measures adopted by Brazil and the Republic of Korea. We find, first, that the breadth of regulation concerning FX derivatives operations depends on the actors involved and the type of contract used. Second, effective domestic institutions are needed to formulate and implement regulations. Third, countries should not limit their policy space through multilateral or bilateral agreements, and leave space for domestic financial regulation.
dc.formatTexto
dc.format.extentpáginas. 183-20
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2676-P
dc.identifier.urihttps://hdl.handle.net/11362/40433
dc.language.isoeng
dc.physicalDescriptionp. 183-201; grafs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo118
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordMás allá de los controles de capital: regulación de los mercados de derivados en moneda extranjera en la República de Corea y el Brasil después de la crisis financiera mundial
dc.relation.translationUrihttps://hdl.handle.net/11362/40036
dc.rights.coarDisponible
dc.subject.unbisEngCAPITAL MOVEMENTS
dc.subject.unbisEngFOREIGN EXCHANGE CONTROL
dc.subject.unbisEngDERIVATIVE SECURITIES
dc.subject.unbisEngFOREIGN EXCHANGE
dc.subject.unbisEngFINANCIAL CRISIS
dc.subject.unbisSpaMOVIMIENTOS DE CAPITAL
dc.subject.unbisSpaCONTROL DE CAMBIOS
dc.subject.unbisSpaVALORES DE DERIVADOS
dc.subject.unbisSpaDIVISAS
dc.subject.unbisSpaCRISIS FINANCIERA
dc.titleBeyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
dc.type.coarrevista
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