One-Size-Fits-One Tailor-Made Fiscal Responses to Capital Flows

This paper surveys policy responses in recent years to capital inflows in a diverse group of countries that are represented by the Netherlands at the IMF Executive Board. Based on the findings from cross-country empirical literature, the paper distills some guiding principles for policy responses to...

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Bibliographic Details
Main Author: Zakharova, Daria
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2008
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a One-Size-Fits-One  |b Tailor-Made Fiscal Responses to Capital Flows  |c Daria Zakharova 
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300 |a 27 pages 
651 4 |a Ukraine 
653 |a Short-term Capital Movements 
653 |a Current Account Adjustment 
653 |a Fiscal Policy 
653 |a Balance of payments 
653 |a Long-term Capital Movements 
653 |a Currency 
653 |a Exports and Imports 
653 |a Fiscal policy 
653 |a International economics 
653 |a Foreign Exchange 
653 |a Capital inflows 
653 |a Current account balance 
653 |a Macroeconomics 
653 |a Capital movements 
653 |a Exchange rates 
653 |a Public Finance 
653 |a Foreign exchange 
653 |a Current account deficits 
653 |a International Investment 
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520 |a This paper surveys policy responses in recent years to capital inflows in a diverse group of countries that are represented by the Netherlands at the IMF Executive Board. Based on the findings from cross-country empirical literature, the paper distills some guiding principles for policy responses to excessive capital inflows, depending on country-specific circumstances and with a particular focus on fiscal policy. In addition to considering the conventional macroeconomic and structural policy tools, the paper also discusses the role of microfiscal policies in affecting the size and the composition of capital inflows. While conditions in these countries have changed very recently, the policy principles remain salient