English, Article, Journal or magazine article edition: Sterilization of Short-Term Capital Inflows - Through Lower Interest Rates ? Michael Kumhof

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Bookmark: http://trove.nla.gov.au/version/142684
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Sterilization of Short-Term Capital Inflows - Through Lower Interest Rates ?
Author
  • Michael Kumhof
Physical Description
  • preprint
Notes
  • October 2000 Reductions in international interest rates are a major cause of capital flows to emerging economies. Increases in domestic interest rates are a frequent policy response to the resulting price increases. This is often unsuccessful. The paper suggests a theoretical explanation based on distinctive features of emerging financial markets, including imperfect asset substitutability and imperfect capital mobility for some sectors of the economy. It concludes that the appropriate policy response to capital inflows may be lower interest rates. Keywords: intellectual property rights, copyright, sui generis protection of expressive material, economics of information-goods, open science, "fair use," scientific databases. JEL Classification: H4, K39, O31, O34 -->
  • intellectual property rights, copyright, sui generis protection of expressive material, economics of information-goods, open science
  • RePEc:wop:stanec:00018
Language
  • English
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