The Institutional View (IV) on the Liberalization and Management of Capital Flows, adopted in 2012, provides the basis for consistent advice, and where relevant

The Fund’s Institutional View (IV) recognizes the benefits of and risks associated with capital flows. Since the IV was adopted, a growing literature has prov

Capital flows are an important aspect of the international monetary system. They provide significant benefits, both direct and indirect. At the same time, they

A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows. While always episodic in nature,

This note outlines the approach of the proposed revision to the Institutional View (IV) when assessing whether systemic financial stability risks are elevated d