Prakash Loungani

Prakash Loungani and Sriram Balasubramanian from the IMF's Independent Evaluation Office delve into the shifting perspectives on capital controls. They explore how the IMF's stance has evolved in the face of emerging market challenges, especially after financial crises. The duo emphasizes the role of capital controls as tactical tools for stability and examines their impact on local economies and housing affordability. They also discuss the balancing act between globalization benefits and the need for robust policy frameworks.