Gallagher calls for reforms to IMF capital flow regulations
Kevin GallagherProfessor of Global Development Policy at BU’s Frederick S. Pardee School of Global Studies and Director of BU Global Center for Development Policy (GDP Center), published a Project union editorial on the International Monetary Fund’s regulation of capital flows and how the organization can improve this practice.
Gallagher co-author of the articleentitled “The unfinished work of the IMF“, with Richard Kozul-Wright, Director of the Division of Globalization and Development Strategies at the United Nations Conference on Trade and Development. Both argue that it is essential for the IMF to embrace capital controls and the role they can play in helping member states mitigate financial instability. They call for a number of reforms to the IMF’s capital account policy, including advising member countries to enact permanent regulations allowing for the rapid deployment of “capital flow management measures” (CFM) during peaks and shutdowns, as well as advocating for reform. trade and investment treaties to allow emerging markets and developing countries greater policy space to use GFCs
The full article can be read at Project unionthe website of.
Kevin Gallagher is Professor of Global Development Policy at the Frederick S. Pardee School of Global Studies at Boston University, where he directs the Global Development Policy Center. He is the author or co-author of six books, the most recent of which, The Chinese Triangle: The Chinese Boom in Latin America and the Fate of the Washington Consensus. Learn more about Professor Gallagher on his school Pardee faculty profile.