The Case for Regulating International Capital Flows

Louise Davidson

Chapter 10 in Uncertainty, International Money, Employment and Theory, 1999, pp 147-165 from Palgrave Macmillan

Abstract: Abstract How one interprets financial market activity and chooses a policy stance regarding the regulation of such markets depends on the underlying economic theory that one explicitly, or implicitly, utilizes to explain the role of financial markets in an entrepreneurial economy. There are two major alternative theories of financial markets: (1) the Classical efficient market theory (hereafter EMT) and (2) Keynes’s liquidity preference theory (hereafter LPT). Each theory produces a different set of policy prescriptions.

Keywords: Exchange Rate; Financial Market; Flexible Exchange Rate; Capital Control; International Financial Market (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1007/978-1-349-14991-9_10

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