Devin Thomas Rafferty

Abstract

After the North Atlantic Financial Crisis, the International Monetary Fund (IMF) shifted towards a greater acceptance of capital controls (what it calls capital flow management measures) for regulating international capital flows with the publication of its “New” Institutional View. This begs the question of what such a change means for developing economies; specifically, whether the new framework addresses the needs they have for producing financial stability. That is the topic examined in this paper.

Keywords

International financial instability, development finance, capital controls, IMF, “new” institutional view

From: Review of Radical Political Economics 49 (4)

Editor: Wang Yi