“In Case of Emergency, Break-Open Glassâ€: The IMF’s “New†Institutional View, Financial Instability, and Financing Development Processes

Devin Thomas Rafferty

Review of Radical Political Economics, 2017, vol. 49, issue 4, 543-550

Abstract: After the North Atlantic Financial Crisis, the International Monetary Fund (IMF) shifted towards a greater acceptance of capital controls (what it calls capital flow management measures) for regulating international capital flows with the publication of its “New†Institutional View. This begs the question of what such a change means for developing economies; specifically, whether the new framework addresses the needs they have for producing financial stability. That is the topic examined in this paper.

Keywords: international financial instability; development finance; capital controls; IMF; “new†institutional view (search for similar items in EconPapers)
JEL-codes: F41 F63 G15 O11 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:4:p:543-550

DOI: 10.1177/0486613417707932

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