Recurrent capital inflows pose important challenges for authorities in emerging market economies seeking to preserve financial stability. Raising interest rates to dampen imbalances that could arise from capital flows can also attract more capital inflows and accentuate appreciation pressures....

Economic and financial integration has reshaped the monetary policy frameworks and transmission channels in the emerging market economies (EMEs) over the past two decades. Economic and financial linkages have become stronger, resulting in greater synchronization of business cycles across...

Pension systems can influence capital flows by affecting saving and investment. At the same time, the growth of pension fund assets has implications for the depth of financial markets. This paper seeks to shed light on these effects, by highlighting three relevant aspects.First, the stage in the...