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

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 qu...

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Bibliographic Details
Published in:Review of Radical Political Economics
Main Author: Rafferty, Devin Thomas
Format: Article in Journal/Newspaper
Language:English
Published: SAGE Publications 2017
Subjects:
Economics and Econometrics
Philosophy
North Atlantic
Online Access:http://dx.doi.org/10.1177/0486613417707932
http://journals.sagepub.com/doi/pdf/10.1177/0486613417707932
http://journals.sagepub.com/doi/full-xml/10.1177/0486613417707932
Description
Summary: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.

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