Towards efficient capital flow management
| Autor: | Estrada García, Angel, Molina Sánchez, Luis, Sánchez Pastor, Paula, Viani, Francesca |
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| Rok vydání: | 2017 |
| Předmět: | |
| Zdroj: | Repositorio Institucional del Banco de España Banco de España |
| Popis: | Artículo de revista Financial globalisation has advanced notably in recent decades. In principle, greater integration should raise the degree of economic efficiency. However, the empirical evidence suggests that, for this to occur, countries should have well-designed economic institutions and sufficiently developed local financial markets. Moreover, these flows may jeopardise financial stability in certain circumstances, whereby the economic authorities need to draw on criteria and instruments to withstand such situations. These tools should be used as part of a broader programme of measures that includes the macro and microeconomic adjustments required. Furthermore, international cooperation emerges as a necessary complement to globalisation |
| Databáze: | OpenAIRE |
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