Capital-account and counter-cyclical prudential regulations in developing countries
Includes bibliography
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oai-11362-77932020-09-29T15:31:52Z Capital-account and counter-cyclical prudential regulations in developing countries Ocampo, José Antonio NU. CEPAL UNU. World Institute for Development Economics Research MACROECONOMIA MERCADOS DE CAPITAL MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO POLITICA ECONOMICA REGLAS Y NORMAS CAPITAL MARKETS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC POLICY MACROECONOMICS RULES AND REGULATIONS Includes bibliography Abstract This paper explores the complementary use of two instruments to manage capital-account volatility in developing countries: capital account regulations and counter-cyclical prudential regulation of domestic financial intermediaries. Capital-account regulations can provide useful instruments in terms of both improving debt profiles and facilitating the adoption of (possibly temporary); counter-cyclical macroeconomic policies. Prudential regulation and supervision should take into account not only the microeconomic risks, but also the macroeconomic risks associated with boom-bust cycles. It should thus introduce counter-cyclical elements into prudential regulation and supervision, together with strict rules to prevent currency mismatches and reduce maturity mismatches. These instruments should be seen as a complement to counter-cyclical macroeconomic policies and, certainly, neither of them can nullify the risks that pro-cyclical macroeconomic policies may generate. 2014-01-02T16:51:59Z 2014-01-02T16:51:59Z 2003-02 Texto Documento Completo 9211213924 http://hdl.handle.net/11362/7793 LC/L.1820-P en Serie Informes y Estudios Especiales 6 application/pdf ECLAC |
institution |
Cepal |
collection |
Cepal |
language |
English |
topic |
MACROECONOMIA MERCADOS DE CAPITAL MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO POLITICA ECONOMICA REGLAS Y NORMAS CAPITAL MARKETS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC POLICY MACROECONOMICS RULES AND REGULATIONS |
spellingShingle |
MACROECONOMIA MERCADOS DE CAPITAL MOVIMIENTOS DE CAPITAL PAISES EN DESARROLLO POLITICA ECONOMICA REGLAS Y NORMAS CAPITAL MARKETS CAPITAL MOVEMENTS DEVELOPING COUNTRIES ECONOMIC POLICY MACROECONOMICS RULES AND REGULATIONS Ocampo, José Antonio Capital-account and counter-cyclical prudential regulations in developing countries |
description |
Includes bibliography |
author2 |
NU. CEPAL |
author_facet |
NU. CEPAL Ocampo, José Antonio |
format |
Texto |
author |
Ocampo, José Antonio |
author_sort |
Ocampo, José Antonio |
title |
Capital-account and counter-cyclical prudential regulations in developing countries |
title_short |
Capital-account and counter-cyclical prudential regulations in developing countries |
title_full |
Capital-account and counter-cyclical prudential regulations in developing countries |
title_fullStr |
Capital-account and counter-cyclical prudential regulations in developing countries |
title_full_unstemmed |
Capital-account and counter-cyclical prudential regulations in developing countries |
title_sort |
capital-account and counter-cyclical prudential regulations in developing countries |
publisher |
ECLAC |
publishDate |
2014 |
url |
http://hdl.handle.net/11362/7793 |
work_keys_str_mv |
AT ocampojoseantonio capitalaccountandcountercyclicalprudentialregulationsindevelopingcountries |
_version_ |
1718434270886756352 |