Regulating Global Capital Flows for Development
April 19, 2012
Global Economy and Development, The Brookings Institute Washington, District of Columbia, United States
In the wake of the global financial crisis and in the absence of global cooperation, it has become increasingly apparent that national governments need regulations to manage the flow of speculative capital to avoid disrupting their long-term development prospects. The International Monetary Fund, the G-20, academics and numerous countries have begun to advocate for the use of capital controls to stem currency appreciation and asset bubbles, and to allow nations to pursue independent monetary policies.
Pardee Center for the Study of the Longer-Range Future
Boston, Massachusetts, United States
On April 19, Global Economy and Development at Brookings will host a discussion on a new report from the Pardee Center Task Force at Boston University titled "Regulating Global Capital Flows for Long-Run Development". Led by the report’s co-chairs, Kevin Gallagher from Boston University, and Colombia University’s Stephany Griffith-Jones and Jose Antonio Ocampo, the discussion will examine the extent to which capital controls are useful for emerging markets attempting to prevent and mitigate financial crises. Paulo Nogueria Batista, Jr, executive director for Brazil to the International Monetary Fund will also participate. Vice President Kemal Dervis, director of Global Economy and Development, will moderate the discussion.
After the program, the panelists will take audience questions.
José Antonio Ocampo
Professor of Professional Practice at Columbia University and former Minister of Finance of Colombia
Financial Markets Program Director
Initiative for Policy Dialogue (IPD)
Kevin P. Gallagher
Professor of Global Development Policy
Global Development Policy Center
Paulo Nogueira Batista, Jr.
Brazil, Colombia, Dominican Republic, Ecuador, Guyana, Haiti, Panama, Suriname, and Trinidad and Tobago
International Monetary Fund
Vice President and Director
Global Economy and Development