Capital Controls x Prudencial Policies (Habermeier et al.)

The effectiveness of capital controls and prudential policies in managing large inflows by Karl Habermeier, Annamaria Kokenyne and Chikako Baba, published by IMF. “In sum, for reasons that are not yet fully understood, capital controls and related prudential measures achieve their stated objectives in some cases but not in others, and it is not possible to draw definitive conclusions. Close attention needs to be given to the choice and design of such measures.”