The role of capital controls and macroprudential measures in taming capital flows

Despite the large capital outflows during the Covid-19 crisis, emerging economies did not make extensive use of capital controls. Indeed, these have had limited effects on capital outflows, being more effective on inflows. This column shows that macroprudential measures on the financial sector, which are increasingly part of the policy mix, have a positive impact on outflows

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China ,France , ,International Monetary Fund ,European Commission ,Palgrave Macmillan ,Banque De France ,Journal Of International Money ,International Journal Of Central Banking ,Quantitative Model ,Integrated Policy ,Conceptual Model ,International Money ,Banque De France Working ,International Journal ,Central Banking ,Macroprudential Policies ,Financial Stability ,International Monetary ,Economics ,Development ,Research ,Policy ,Development Economics ,