Financial Globalisation, Exchange Rates and Capital Controls in Developing Countries

Vijay Joshi ()

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

Abstract: This paper argues that (i) for many developing countries, the optimal external payments regime would be a combination of an intermediate exchange rate with capital controls and (ii) the policy stance and advice of the IMF should reflect this view. The paper uses India as a case-study to illustrate its argument.

Keywords: Globalisation; Exchange rate regimes; Impossible Trinity; Capital controls; India; East Asian crisis. (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ifn, nep-mac, nep-mfd and nep-sea
Date: 2003
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Persistent link: http://EconPapers.repec.org/RePEc:pas:papers:2003-19

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