Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis

Within the management of capital flows, some emerging economies have been facing economic policy dilemmas after the global financial crisis, related to financial instrument operations, in a context of abundant liquidity in the advanced economies. However, neither the academic literature nor the fina...

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Autores principales:	Prates, Daniela Magalhães, Fritz, Barbara
Formato:	Texto
Lenguaje:	English
Publicado:	2016
Materias:	MOVIMIENTOS DE CAPITAL CONTROL DE CAMBIOS VALORES DE DERIVADOS DIVISAS CRISIS FINANCIERA CAPITAL MOVEMENTS FOREIGN EXCHANGE CONTROL DERIVATIVE SECURITIES FOREIGN EXCHANGE FINANCIAL CRISIS
Acceso en línea:	http://hdl.handle.net/11362/40433
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spelling	oai-11362-404332020-03-06T16:50:27Z Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis Prates, Daniela Magalhães Fritz, Barbara MOVIMIENTOS DE CAPITAL CONTROL DE CAMBIOS VALORES DE DERIVADOS DIVISAS CRISIS FINANCIERA CAPITAL MOVEMENTS FOREIGN EXCHANGE CONTROL DERIVATIVE SECURITIES FOREIGN EXCHANGE FINANCIAL CRISIS Within the management of capital flows, some emerging economies have been facing economic policy dilemmas after the global financial crisis, related to financial instrument operations, in a context of abundant liquidity in the advanced economies. However, neither the academic literature nor the financial institutions have paid sufficient attention to foreign currency (FX) derivatives regulation in emerging economies. This paper analyses the measures adopted by Brazil and the Republic of Korea. We find, first, that the breadth of regulation concerning FX derivatives operations depends on the actors involved and the type of contract used. Second, effective domestic institutions are needed to formulate and implement regulations. Third, countries should not limit their policy space through multilateral or bilateral agreements, and leave space for domestic financial regulation. 2016-08-09T16:20:01Z 2016-08-09T16:20:01Z 2016-04 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/40433 LC/G.2676-P 11 en CEPAL Review CEPAL Review 118 .pdf application/pdf BRASIL REPUBLICA DE COREA BRAZIL REPUBLIC OF KOREA
institution	Cepal
collection	Cepal
language	English
topic	MOVIMIENTOS DE CAPITAL CONTROL DE CAMBIOS VALORES DE DERIVADOS DIVISAS CRISIS FINANCIERA CAPITAL MOVEMENTS FOREIGN EXCHANGE CONTROL DERIVATIVE SECURITIES FOREIGN EXCHANGE FINANCIAL CRISIS
spellingShingle	MOVIMIENTOS DE CAPITAL CONTROL DE CAMBIOS VALORES DE DERIVADOS DIVISAS CRISIS FINANCIERA CAPITAL MOVEMENTS FOREIGN EXCHANGE CONTROL DERIVATIVE SECURITIES FOREIGN EXCHANGE FINANCIAL CRISIS Prates, Daniela Magalhães Fritz, Barbara Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
description	Within the management of capital flows, some emerging economies have been facing economic policy dilemmas after the global financial crisis, related to financial instrument operations, in a context of abundant liquidity in the advanced economies. However, neither the academic literature nor the financial institutions have paid sufficient attention to foreign currency (FX) derivatives regulation in emerging economies. This paper analyses the measures adopted by Brazil and the Republic of Korea. We find, first, that the breadth of regulation concerning FX derivatives operations depends on the actors involved and the type of contract used. Second, effective domestic institutions are needed to formulate and implement regulations. Third, countries should not limit their policy space through multilateral or bilateral agreements, and leave space for domestic financial regulation.
format	Texto
author	Prates, Daniela Magalhães Fritz, Barbara
author_facet	Prates, Daniela Magalhães Fritz, Barbara
author_sort	Prates, Daniela Magalhães
title	Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
title_short	Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
title_full	Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
title_fullStr	Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
title_full_unstemmed	Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
title_sort	beyond capital controls: regulation of foreign currency derivatives markets in the republic of korea and brazil after the global financial crisis
publishDate	2016
url	http://hdl.handle.net/11362/40433
work_keys_str_mv	AT pratesdanielamagalhaes beyondcapitalcontrolsregulationofforeigncurrencyderivativesmarketsintherepublicofkoreaandbrazilaftertheglobalfinancialcrisis AT fritzbarbara beyondcapitalcontrolsregulationofforeigncurrencyderivativesmarketsintherepublicofkoreaandbrazilaftertheglobalfinancialcrisis
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Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis

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