Abstract In the wake of the financial crisis the International Monetary Fund (IMF) began to publicly express support for what have traditionally been referred to as ‘capital controls’. This paper empirically examines the extent to which the change in IMF discourse on these matters has resulted in significant changes in actual IMF policy advice. By creating and analyzing a database of IMF Article IV reports, we examine whether the financial crisis had an independent impact on IMF support for capital controls. We find that the IMF’s level of support for capital controls has increased as a result of the crisis and as the vulnerabilities associated with capital flows accentuate.

中文翻译：

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监管新兴市场的资本流动：基金组织与全球金融危机

摘要在金融危机之后，国际货币基金组织（IMF）开始公开表达对传统上称为“资本管制”的支持。本文从经验上考察了国际货币基金组织在这些问题上的论述改变在多大程度上导致实际的国际货币基金组织政策建议发生了重大变化。通过创建和分析基金组织第四条报告的数据库，我们检查了金融危机是否对基金组织对资本管制的支持产生了独立影响。我们发现，由于危机以及与资本流动相关的脆弱性加剧，国际货币基金组织对资本管制的支持水平有所提高。