Peru’s Recent Experience in Managing Capital Flows

Paul Castillo

Chapter 1.1 in Taming Capital Flows: Capital Account Management in an Era of Globalization, 2015, pp 7-30 from Palgrave Macmillan

Abstract: Abstract This paper highlights the role played by the buildup of international liquidity buffers and the introduction of preventive measures aimed at reducing financial vulnerabilities during capital surges as key elements of Peru’s recent experience in managing capital flows. It shows how the emphasis of monetary policy on minimizing risks associated with financial dollarization and the improvement in fiscal policy has further contributed to the effectiveness of the policy response against capital reversal episodes, such as in the wake of the collapse of Lehman Brothers.

Keywords: capital flows; monetary policy; Peru (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-42768-7_2

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DOI: 10.1057/9781137427687_2

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