IMF paper examines capital flow management

IMF headquarters in Washington DC

A working paper, published by the International Monetary Fund in May, considers methods of managing large-scale capital flows in the Czech Republic, Poland and Romania.

The authors, Ibrahim Chowdhury and Leonor Keller, stress that the IMF has cautioned against capital controls due to their distortionary effect on markets. Controls may be justified, however, in the event of capital inflows creating "significant macroeconomic or financial stability concerns".

Based on the experiences of the Czech

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