(Download) "Monetary Policy in a World of Mobile Capital." by The Cato Journal # Book PDF Kindle ePub Free
eBook details
- Title: Monetary Policy in a World of Mobile Capital.
- Author : The Cato Journal
- Release Date : January 01, 2005
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 243 KB
Description
The free movement of capital across borders has created, and will certainly continue to create, enormous economic benefits. Capital flows afford developing countries and other regions the means to exploit promising investment opportunities while providing savers around the globe the means both to earn higher returns and to reduce risk through international portfolio diversification. Access to international capital markets also permits nations to accumulate foreign assets in good times and to deplete those assets or to borrow in bad times, mitigating the effects on living standards of shocks to domestic income and production. In recent years, global capital flows have attained record highs relative to global income, reflecting both the powerful tendency of capital to seek the highest return and a concerted international effort to dismantle political and regulatory barriers to capital mobility. In this article, I address the role of monetary policy, particularly the choice of the exchange rate regime, in enabling economies to take maximum advantage of the increasing openness and depth of international capital markets.
 "Monetary Policy in a World of Mobile Capital." by The Cato Journal # Book PDF Kindle ePub Free){kind=link}