AUTHOR'S BIO
Eswar Prasad
Eswar Prasad is Professor of Economics at Cornell University and a senior fellow at the Brookings Institution. He is the former head of the IMF's Financial Studies Division.
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The Siren Song of Capital Controls
Eswar Prasad Series: The Asian Century 2010-08-02Capital controls are back in vogue, winning favor with several emerging-market governments and even an endorsement from the IMF. But capital controls remain a bad idea, and there is good reason to see inflows into emerging markets as an opportunity to strengthen domestic capital markets, rather than as a threat to financial stability.... read Comments: 2 Recommended: 0 Read: 10703
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Emerging Lessons from the Crisis
Eswar Prasad Series: Frontiers of Growth 2008-09-18While the US and other advanced countries are still reeling from the effects of the sub-prime mortgage mess, emerging market economies seem to have dodged this bullet, at least until now. But many of them have drawn precisely the wrong lesson, and are halting – or even reversing – the liberalizing reforms needed to sustain rapid growth and macroeconomic stability.... read Comments: 0 Recommended: 0 Read: 16082
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China’s Incredible Shrinking Economy
Eswar Prasad Series: China World 2008-03-27The World Bank recently set off a firestorm of debate by announcing that the Chinese and Indian economies are 40% smaller than previously estimated. But when the dust settles, the new data may be less revolutionary than some people believe, and may cool the heated rhetoric about China's supposedly undervalued currency. ... read Comments: 0 Recommended: 0 Read: 19719
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What Monetary Policy Does China Need?
Marvin Goodfriend and Eswar Prasad Series: The Asian Century 2006-11-14China’s remarkable growth has been financed recently by a rapid expansion of money and bank credit that is producing an increasingly unsustainable investment boom. This renews concerns that the country may not be able to avert a replay of the painful boom–and-bust cycle such as the one it endured in the mid-1990’s. ... read Comments: 0 Recommended: 0 Read: 20115
