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http://hdl.handle.net/11718/19400| Title: | Unconventional monetary policy normalisation and emerging market capital flows |
| Authors: | Mohapatra, Sanket Burns, Andrew Kida, Mizudo Lim, Jamus Jerome Stocker, Marc |
| Issue Date: | 2016 |
| Publisher: | Centre for Economic Policy Research |
| Citation: | Burns A., Kida M., Lim J., Mohapatra S., Stocker M. (2016). Unconventional monetary policy normalisation and emerging market capital flows. Geneva Reports on the World Economy, 2016(January), 237-247. |
| Abstract: | The Federal Reserve has begun to ‘taper’ its programme of quantitative easing. The ‘taper tantrum’ that followed the announcement of tapering in May 2013 suggests that the normalisation of rich countries’ unconventional monetary policies may lead to capital outflows and currency depreciations in emerging markets. This column presents the results of recent World Bank research into these effects. In the baseline scenario, the unwinding of QE is predicted to reduce capital inflows by about 10%, or 0.6% of developing-country GDP by 2016. However, if markets react abruptly, capital flows could decline by as much as 80% for several months. |
| URI: | http://hdl.handle.net/11718/19400 |
| Appears in Collections: | Journal Articles |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Unconventional monetary policy _Sanket Mohapatra_2014_CEPR Policy Portal.pdf Restricted Access | 368.26 kB | Adobe PDF | View/Open Request a copy |
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