This paper examines policies to tax international private capital flows and securities transactions in developing countries. Many recent studies focus on the macroeconomic dividends associated with these policies (namely, their contribution to macroeconomic and financial stability and lengthened...

Inflation targeting (IT) has recently become the dominant monetary policy prescription for both developing and industrialized countries alike. Emerging market governments, in particular, are increasingly pressured to follow IT as part of their International Monetary Fund (IMF)-led stabilization...

This paper presents an employment targeting (ET) framework as an alternative to an inflation targeting monetary policy framework for South Africa. The framework incorporates some of the advantages normally claimed for a targeting framework - namely, enhancing transparency and accountability -...