Thinking on global capital flows is muddled – BIS’s Shin

Hyun Song Shin: countries are “nodes” in an interconnected network, not “islands”

Policymakers looking to design defences against volatile flows of global capital would have an easier time if they get their thinking straight first, Hyun Song Shin told a conference in Washington, DC on April 19.

The Bank for International Settlements head of research said there was a “stark contrast” between the relatively uncontroversial domestic thinking on capital regulations, and the “contentious and difficult” debate on an international level.

“I will argue that the contrast is due to a