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Financial openness, financial fragility and policies for economic stability: a comparative analysis across regions of the developing world

Economic development
January 2023|Project Documents, Studies and Research Papers » Project documents
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Financial openness, financial fragility and policies for economic stability: a comparative analysis across regions of the developing world

Editor: Pérez Caldentey, Esteban Physical Description: 430 páginas. Editorial: ECLAC Date: January 2023 ECLAC symbol: LC/TS.2022/139

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Description

This book presents a comparative analysis of the policy responses of developing countries in Africa, Asia and Latin America and the Caribbean to the challenges that greater external financial openness and price and exchange-rate flexibility pose to economic stability. Greater external openness has significantly narrowed developing economies’ policy space, while at the same time increasing the potential for financial fragility and instability. These challenges, which have come to the fore since the global financial crisis of 2008–2009, are also manifest in the profound impact of the COVID-19 pandemic and will shape the post-pandemic recovery. The book examines how different countries have used capital controls and macroprudential tools and highlights key lessons learned.

Table of contents

Presentation .-- Introduction .-- Chapter I. Capital flow regulation: selected experiences in developing countries from Latin America, Africa and Asia-Pacific and analysis of the type of capital controls needed to confront the disruptive effects of the COVID-19 / Esteban Pérez Caldentey, Zebulun Kreiter, Martín Abeles .-- Chapter II. Challenges posed by the Global Development trajectory from 2022 to 2030 / Terry McKinley .-- Chapter III. A critical assessment of macroprudential regulation and comparative regional experiences focusing on Latin America and the Caribbean / Esteban Pérez Caldentey, Lorenzo Nalin, Leonardo Rojas .-- Chapter V. Macroprudential policies in Asia: A consideration of some Asian experiences / Jayati Ghosh .-- Chapter VI. Macroprudential policies in Latin America / Pablo Gabriel Bortz .-- Chapter VII. A Framework to Interpret Macroprudential Policies in an Era of Financialization / Matías Vernengo .-- Chapter VIII. A baseline stock-flow model for the analysis of macroprudential regulation guidelines and policies for Latin America and the Caribbean / Esteban Perez Caldentey, Lorenzo Nalin, Leonardo Rojas .-- Chapter IX. Finance-led premature de-industrialization and the role of external macroprudential policy for post-COVID-19 transformative development:
Latin America in a comparative perspective /
Alberto Botta, Giuliano Yajima, Gabriel Porcile .-- Chapter X. Conclusions / Esteban Pérez Caldentey, Juan Carlos Moreno-Brid, Lorenzo Nalín.

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