Acknowledgements
Introduction
Sebastian Edwards
I. CAPITAL CONTROLS IN EMERGING COUNTRIES: ANALYTICAL ISSUES AND CROSS-COUNTRY EVIDENCE
1. Capital Flows in a Globalized World: The Role of Policies and Institutions
Laura Alfaro, Sebnem Kalemli-Ozcan, and Vadym Volosovych
Comment: Gerd Häusler
2. Capital Controls, Sudden Stops, and Current Account Reversals
Sebastian Edwards
Comment: Alan M. Taylor
3. Currency Mismatches, Debt Intolerance, and Original Sin: Why They Are Not the Same and Why It Matters
Barry Eichengreen, Ricardo Hausmann, and Ugo Panizza
Comment: Joshua Aizenman
4. The Microeconomic Evidence on Capital Controls: No Free Lunch
Kristin J. Forbes
Comment: Charles W. Calomiris
5. The International Exposure of U.S. Banks: Europe and Latin America Compared
Linda S. Goldberg
Comment: Matías Braun
II. COUNTRY STUDIES
6. International Borrowing, Capital Controls, and the Exchange Rate: Lessons from Chile
Kevin Cowan and José De Gregorio
7. International Borrowing and Macroeconomic Performance in Argentina
Kathryn M. E. Dominguez and Linda L. Tesar
Comment: Nicolas Magud
8. Capital Flows and Controls in Brazil: What Have We Learned?
Ilan Goldfajn and André Minella
9. The Chinese Approach to Capital Inflows: Patterns and Possible Explanations
Eswar Prasad and Shang-Jin Wei
10. South Korea's Experience with International Capital Flows
Marcus Noland
Comment: Gita Gopinath
11. Malaysian Capital Controls: Macroeconomics and Institutions
Simon Johnson, Kalpana Kochhar, Todd Mitton, and Natalia Tamirisa
Comment: Peter Blair Henry
12. Capital Flows and Exchange Rate Volatility: Singapore's Experience
Basant K. Kapur
Comment: Chair Chari
13. India's Experience with Capital Flows: The Elusive Quest for a Sustainable Current Account Deficit
Ajay Shah and Ila Patnaik
14. Capital Controls: An Evaluation
Nicolas Magud and Carmen M. Reinhart
Contributors
Author Index
Subject Index