Opening up a country's economy to direct investment and increased financial flows could be hurting the poor even in good times, concludes a new report from the Bretton Woods Project. Linking capital account liberalisation to the impacts on the poor, the report looks at the mechanisms of government spending and the delivery of social services, access to credit as well as the vulnerability to people's livelihoods in the face of increased volatility in the macro economy.
“Go with the flows? Capital account liberalisation and poverty” draws on expert advice and vivid discussion at a meeting co-organised by the Bretton Woods Project and Oxfam at Oxford University earlier this year. The report also contains an introduction and summary by Angela Wood, Bretton Woods Project, a background paper and comments by academics and representatives from UN agencies, civil society and the international financial institutions.
To order the report (free), please contact: [email protected], or download from: http://www.brettonwoodsproject.org/topic/financial/
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