IMF report studies country responses to volatile capital flows
Set of case studies emphasises value of macro-prudential policy in resisting credit booms
Countries facing rapid capital movements have adopted a range of measures to defend themselves, with macro-prudential policy employed widely to resist credit booms, a study by the International Monetary Fund finds.
The set of case studies examines a selection of small open economies in advanced and developing nations. A common theme is the use of various macro-prudential tools.
For example, Korea has wielded the tools with a particular focus on foreign exchange risks. Forex liquidity and
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