Prof. Gallagher Quoted in FT Story on Use of Capital Controls

Prof. Kevin Gallagher, a Faculty Research Fellow at the Frederick S. Pardee Center for the Study of the Longer-Range Future, was quoted in a recent Financial Times story titled “Capital controls no longer taboo as emerging markets battle flight.”

In the article, Gallagher calls on policymakers to use capital controls given the unprecedented capital outflows from emerging markets — $735 billion last year. “These countries are bleeding,” said Gallagher. “They can’t just let their [foreign exchange] reserves go on propping up their currencies when markets have already made their own decisions.”

Read the full article here.

Gallagher is a Professor of Global Development Policy at the Frederick S. Pardee School of Global Studies and the co-director of the Global Economic Governance Initiative. He led a Pardee Center Task Force on Regulating Capital Flows for Long-Run Development, which resulted in three reports between 2012 and 2014.