bis -Lesetja Kganyago - The contribution of capital flows to sustainable growth in emerging markets-此为英文文档.docx
- 1、本文档共27页,可阅读全部内容。
- 2、原创力文档(book118)网站文档一经付费(服务费),不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
- 3、本站所有内容均由合作方或网友上传,本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺!文档内容仅供研究参考,付费前请自行鉴别。如您付费,意味着您自己接受本站规则且自行承担风险,本站不退款、不进行额外附加服务;查看《如何避免下载的几个坑》。如果您已付费下载过本站文档,您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“版权申诉”(推荐),也可以打举报电话:400-050-0827(电话支持时间:9:00-18:30)。
1
2023MichelCamdessusCentralBankingLecturebyLesetjaKganyago,
GovernoroftheSouthAfricanReserveBank,
attheInternationalMonetaryFund,
Washington,DC,11July2023
Thecontributionofcapitalflowstosustainablegrowthinemergingmarkets
Thankyouforthehonourofinvitingmetogivethislecture.Consideringthepeoplewhohavepreviouslyspokenatthisforum,consideringthestatureoftheaudienceheretoday,andalsoconsideringthelegacyofMichelCamdessus,wholedtheInternationalMonetaryFund(IMF)forsolong,itisagreatprivilegeformetobehere.
Mysubjecttodaywillbetheroleofcapitalflowsinemergingmarketgrowth.
Iwanttostartwithaproblemthathasoftenbotheredme.AstheSouthAfricancentralbankGovernor,Iregularlymeetwithglobalinvestorstodiscusseconomicconditionsandpolicysettingsinmycountry.Thefundamentalgoaloftheseengagementsistoencourageinvestment.ThenIreturnfromthesemeetings,andwehavepolicysessionswherestaffwanttotalkaboutthedangersofcapitalflows.ButtheinvestorsIjustmetarethepeoplewhoareresponsibleforthecapitalflowing.So,Iwonder–whichpartofmytimeamIwasting?Dowewantthesecapitalflowsornot?
Thisisaglobaldiscussion,andonethathasevolvedsignificantlyovermytimeworking
inmacroeconomicpolicy.
Twentyor30yearsago,themainstreamviewwasthatfinancialglobalisationwasgood.Globalmarketscouldprovidemorefinancing,atlowerrates,thancountriescouldachievebyrelyingontheirownresources.Theywouldallowforbetterrisk
2
sharing,andtheywouldcreatebetterincentivestogetpolicyright.Thestandardpolicyrecommendationwasthatcontrolsoncapitalflowsshouldthereforebeliberalised,andwheretheywerebeingapplied,thiswasprobablytocoverforsomeotherpolicyerror.1
Nowadays,themainstreamviewhasshifted.TheIMFencouragespolicymakerstokeepcapitalflowmeasures
您可能关注的文档
- “健康中国2030”规划纲要-“共建共享、全民健康”.docx
- 2023年全球黄金市场年中展望 - 软着陆与硬着陆 -世界黄金世界 .docx
- bis -Boris Vujčić - European finance in s - new risks in a volatile world -此为英文文档.docx
- bis -Andrew Bailey - New prospects for money-此为英文文档.docx
- bis -Fiscal sources of inflation risk in EMDEs - the role of the external channel-此为英文文档.docx
- bis -Luis de Guindos - The inflation outlook and monetary policy in the euro area-此为英文文档.docx
- bis -Michael S Barr - Holistic capital review-此为英文文档.docx
- bis -Philip Lowe - The Reserve Bank of Australia Review and monetary policy-此为英文文档.docx
- Carnegie-It’s Time to Create a National Registry for Large AI Models_article (--)-此为英文文档.docx
- ETSI GR RIS -Reconfigurable Intelligent Surfaces (RIS) -Use Cases, Deployment Scenarios and Requirements-此为英文文档.docx
- 山东省威海市2023-2024学年高一年级下册期末考试语文试题及答案.pdf
- 2024-2025学年绥化市高二数学上学期开学考试卷(附答案解析).pdf
- 2024届贵州省贵阳某中学联考高考模拟预测地理试题(含答案解析).pdf
- 2024年公务员考试行测常识判断复习讲义.pdf
- 2024年广东学法考试试题附答案(考场一).pdf
- 2024年人教版八年级物理复习讲义:功 专项训练【五大题型】原卷版.pdf
- 江苏省泰州市高港区等2地2023-2024学年九年级上学期期中语文试题.pdf
- 酒店概论及酒店管理培训考试题库.pdf
- 湖北省旅游类《酒店服务》技能高考历年考试试题库(含答案).pdf
- 泰安市2025年中考一模考试物理试题(A)含解析.pdf
最近下载
- 政府采购设备验收报告(模板)-设备验收报告.doc VIP
- 2022-2023年广播电视播音员主持人《广播电视播音主持业务(笔试)》历年真题高频考点汇总(附带答案)试题号1.docx
- 16《麻雀》第二课时(教学实录)-部编版语文四年级上册2.docx
- 《机械识图》(第四版)完整版教学课件全书电子讲义(最新).pptx
- 2024年湖南工业职业技术学院单招职业技能测试题库带答案解析.docx
- 医院科室月工作总结和下月计划.pptx
- 【验收报告】XXXX项目验收报告(模板).docx VIP
- 人力资源工作的使命和愿景.pdf
- WPS办公应用职业技能等级(初级)考试复习题库(含答案).pdf VIP
- rm327x规格书-k版rm3273s中文高效率高精度PSR充电器驱动芯片.pdf
文档评论(0)