management of capital flows comparative experiences and implications for africa

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This publication contains seven papers presented at a workshop jointly organised by UNCTAD and the Government of Egypt, held in Cairo on 20-21 March 2001. Subjects discussed include: corporate governance in emerging markets; the OECD experience with capital account liberalisation; capital account management in India and Malaysia; the Chinese economy, financial sector restructuring and international investment; post-crisis financial reforms in South Korea; public debt and macroeconomic management in sub-Saharan Africa; capital flows, capital accounts and foreign exchange regimes in Africa.

This publication is the 7th in an annual series that reviews the continent's economic performance and near-term prospects. It finds that, continuing the economic recovery since the mid-1990s, African countries generally recorded strong growth in 2005, a major turnaround after decades of economic stagnation. However, growth remains uneven across countries, and in many countries fast growth has not been accompanied by substantial gains in employment or poverty reduction. There are a number of imbalances which constrain the ability of African countries to accelerate and sustain growth, between exports and imports, between resource inflows and debt payments, and between domestic savings and domestic investment. African countries thus need to mobilise more domestic and external financial resources, including official and private capital flows, to fill the financing gaps in order to accelerate growth and sustain higher levels of growth. This year's report focuses on how better-managed capital flows could help African countries achieve their development goals.

International Capital Flows in Calm and Turbulent Times analyzes the financial crises of the late 1990s and draws attention to the type of lenders and investors that triggered and deepened the crises. It concentrates on institutional investors and banks and provides detailed analysis of the countries most affected by the 1997-98 Asian financial crisis as well as the Czech Republic and Brazil. It also suggests necessary international financial reforms to make crises less likely. The book is unique in its scrutiny of the type of lenders and investors that triggered and deepened the crises, focusing particularly on institutional investors and banks; allocation of their assets; the criteria used in this process; and the impact of the nature of the investor on the volatility of different types of capital flow. It addresses such questions as: What determines or triggers massive changes in perceptions and sentiment by different investors and leaders? To what extent does contagion spread not just among countries but between actors? What are the policy implications of this analysis? The book concludes by examining the asymmetries in the financial architecture discussions and implementation and by offering policy proposals.

This book is the thirteenth volume in the International Papers in Political Economy (IPPE) series which explores the latest developments in political economy. A collection of eight papers, the book concentrates on the deregulation of domestic financial markets and discusses financial liberalisation in terms of its past performance, current progress and future developments. The chapters have been written by expert contributors in the field and focus on topics such as past records of financial liberalisation, future policies of regulation, and current account imbalances. Other papers examine capital account regulations in developing and emerging countries, and capital controls in the Eurozone after the 2007 financial crisis. This collection of papers invites readers to consider the impact of financial liberalisation both during and after the global economic crisis. Scholars and students with an interest in political economy, financialisation, and economic performance will find this collection stimulating and informative.

Given the lack of adequate resources to finance long-term development in Africa, the need to attract foreign direct investment has become a key aspect of development strategies in recent years advocated by policymakers at national, regional and international levels. This publication evaluates the benefits and disadvantages that FDI brings for the host country in efforts to achieve sustainable economic development, and calls for a more balanced strategic approach which sufficiently recognises the economic and development challenges facing African countries.

This Book Aims To Provide A Positive, Strategic, And Normative Analysis Of Monetary And Financial Governance. It Analyses The Complexities And Loopholes In India`S Reform Journey In The Face Of Liberization And Capital Movements.

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