INET video interview with Boston University’s Professor Kevin Gallagher on his new book .. discussion of international capital flows, how it is causing destabilizing effects in developing countries .. Gallagher points out that today a number of emerging economies, including Brazil, Taiwan, & South Korea, have been successfully experimenting with new capital account regulations (CARs) to manage volatile capital flows .. Gallagher develops a theory of countervailing monetary power that shows how emerging markets can & should counter domestic & international opposition to the regulation of cross-border flows, even as he acknowledges powerful attacks from a multiplicity of interests, seeking to undermine those very regulations .. 20 minutes

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