Value of capital controls still up for debate

Economists still debating merits of capital flow measures

Olivier Blanchard stepped down as IMF chief economist in September

Evidence on the effectiveness of capital controls remains mixed, despite widespread use among emerging markets and continued research into the topic.

In 2012 the International Monetary Fund caused controversy by switching its position on capital controls from firmly against to cautiously in favour. Writing in 2013, IMF economists Olivier Blanchard, Giovanni Dell'Ariccia and Paolo Mauro said that despite a multitude of examples, evidence on the effectiveness of capital controls is "surprisingly

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