02088cas a2200277 a 4500 AALejournalIMF023088 230101c9999 xx r poo 0 0eng d 5.00 USD 9781462347513 2617-6742 BD-DhAAL BD-DhAAL Ostry, Jonathan. Capital Inflows : The Role of Controls / Jonathan Ostry, Atish Ghosh, Karl Habermeier, Marcos Chamon. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (29 pages) IMF Staff Position Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students With the global economy beginning to emerge from the financial crisis, capital is flowing back to emerging market countries (EMEs). These flows, and capital mobility more generally, allow countries with limited savings to attract financing for productive investment projects, foster the diversification of investment risk, promote intertemporal trade, and contribute to the development of financial markets. In this sense, the benefits from a free flow of capital across borders are similar to the benefits from free trade (see Reaping the Benefits of Financial Globalization, IMF Occasional Paper 264, 2008), and imposing restrictions on capital mobility means foregoing, at least in part, these benefits, owing to the distortions and resource misallocation that controls give rise to (see Edwards and Ostry, 1992, for an example of how capital controls interact with other distortions in the economy). Mode of access: Internet Chamon, Marcos. Ghosh, Atish. Habermeier, Karl. IMF Staff Position Notes; Staff Position Note ; No. 2010/004 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2617-6742&volume=2010&issue=004 IMF e-Library