Capital Controls and Capital Flows in Emerging Economies.

• Position: Bureau Books

Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, edited by Sebastian Edwards, is available from the University of Chicago Press this spring. The price of this NBER Conference Report is $99.00.

Some scholars argue that the free movement of capital across borders enhances welfare; others claim that it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, a dinguished group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their...