Capital controls
Global banks reduce frictions in international capital flows, say NY Fed staff
NY Fed staff report findings are consistent with research on reduced incidence of crises in local markets where banks have branches or subsidiaries; effects appear to be heterogeneous
IMF paper considers impact of China’s capital account liberalisation
Researchers suggest that reduced capital control will likely lead to net outflows from equity and bond markets as domestic investors look to diversify
Bank of Israel’s outgoing chief, Stanley Fischer, on the challenges of central banking
Stanley Fischer believes his work as governor of the Bank of Israel is done. He tells Chris Jeffery about the reform process in Israel as well as the challenges facing the world economy and the IMF
Bank of Thailand rate cut aims to boost demand, not weaken baht
BoT makes clear its move was driven by disappointing economic growth, and not aimed at weakening the currency as the government would like
Iceland’s Guðmundsson backs MAS-style stability model
Icelandic governor says managed float and strong supervision are important lessons to be taken from Singapore; says capital controls helped avoid a default in Iceland, but should not be used lightly