Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries
In analysing the availability and performance of the foreign capital in developing countries, too much attention has been given to the availability of capital and current account while far too little has been given to long-term investment, job creation and economic sovereignty. The current study cen...
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| Format: | Article |
| Language: | English |
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Pluto Journals
2017-11-01
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| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.8.4.0564 |
| _version_ | 1797834239858704384 |
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| author | Kalim Siddiqui |
| author_facet | Kalim Siddiqui |
| author_sort | Kalim Siddiqui |
| collection | DOAJ |
| description | In analysing the availability and performance of the foreign capital in developing countries, too much attention has been given to the availability of capital and current account while far too little has been given to long-term investment, job creation and economic sovereignty. The current study centres on a critical review of available literature and a contribution to the substantive topics indicated in the title. The objective is to examine relevant empirical and theoretical studies. The study argues that following the adoption of capital liberalisation and neoliberalism, the economies of most developing countries have become more vulnerable. If China is excluded, we find that most developing economies have been unable to expand employment opportunities or reduce levels of poverty due to fear of capital flight. In recent years, capital liberalisation policy has encouraged capital flight from their economies. After 2008, the International Monetary Fund (IMF) publicly express support for capital controls as a result of the global financial crisis and as the vulnerabilities associated with capital flows. |
| first_indexed | 2024-04-09T14:35:13Z |
| format | Article |
| id | doaj.art-de0284f017db4752a15b07e774a720b3 |
| institution | Directory Open Access Journal |
| issn | 2042-891X 2042-8928 |
| language | English |
| last_indexed | 2024-04-09T14:35:13Z |
| publishDate | 2017-11-01 |
| publisher | Pluto Journals |
| record_format | Article |
| series | World Review of Political Economy |
| spelling | doaj.art-de0284f017db4752a15b07e774a720b32023-05-03T13:47:52ZengPluto JournalsWorld Review of Political Economy2042-891X2042-89282017-11-018456458910.13169/worlrevipoliecon.8.4.0564Financialisation and Economic Policy: The Issue of Capital Control in the Developing CountriesKalim SiddiquiIn analysing the availability and performance of the foreign capital in developing countries, too much attention has been given to the availability of capital and current account while far too little has been given to long-term investment, job creation and economic sovereignty. The current study centres on a critical review of available literature and a contribution to the substantive topics indicated in the title. The objective is to examine relevant empirical and theoretical studies. The study argues that following the adoption of capital liberalisation and neoliberalism, the economies of most developing countries have become more vulnerable. If China is excluded, we find that most developing economies have been unable to expand employment opportunities or reduce levels of poverty due to fear of capital flight. In recent years, capital liberalisation policy has encouraged capital flight from their economies. After 2008, the International Monetary Fund (IMF) publicly express support for capital controls as a result of the global financial crisis and as the vulnerabilities associated with capital flows.https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.8.4.0564 |
| spellingShingle | Kalim Siddiqui Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries World Review of Political Economy |
| title | Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries |
| title_full | Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries |
| title_fullStr | Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries |
| title_full_unstemmed | Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries |
| title_short | Financialisation and Economic Policy: The Issue of Capital Control in the Developing Countries |
| title_sort | financialisation and economic policy the issue of capital control in the developing countries |
| url | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.8.4.0564 |
| work_keys_str_mv | AT kalimsiddiqui financialisationandeconomicpolicytheissueofcapitalcontrolinthedevelopingcountries |