The Pardee Center has published the 26th paper in the Issues in Brief Series, “The IMF’s New View on Financial Globalization: A Critical Assessment,” by Faculty Fellow Kevin Gallagher. The paper is Prof. Gallagher’s assessment of the IMF’s new “institutional view” on capital account liberalization and the management of capital flows between countries announced in December 2012. The brief reiterates the “rules of thumb” put forward by the Pardee Center Task Force on Regulating Global Capital Flows for Long-Run Development in 2011 that should be considered when devising capital account regulations applicable to developing countries.
Other Pardee Center publications related to this issue include Issues in Brief No. 22, Issues in Brief No. 24, and the March 2012 Pardee Center Task Force Report, Regulating Global Capital Flows for Long-Run Development. A second Task Force Report on the relationship between capital accountant regulations and the global trading system will be published in 2013.