Structural policies

Macroeconomic policy

Macro prudential measures

Capital flow management measures

Tool properties

Long-term measures

Short and medium-term measures

Short and medium-term measures

Short and medium-term measures

Implementation objectives

Enhancing economic development potential

Achieving macro policy objectives

Preventing systemic risk

Direct management of capital flows

Implementation context

Countries to move forward selectively and continuously according to their development needs

Preference for macroeconomic risks arising from cross-border capital flows

Preferential use when cross-border capital flows pose financial stability risks

Use when macroeconomic and macroprudential policies are not effective in addressing the risks of cross-border capital flows

Specific tools

Industrial policy, micro policy

Exchange rate policy, reserve policy, monetary policy, fiscal policy, etc.

Countercyclical capital buffers, loan-to-value ratios, debt-to-income ratios, limiting liquidity mismatches, limiting currency mismatches, etc.

Restricting the borrowing of foreign debt by domestic subjects, restricting the flow of foreign capital into the domestic securities market, restricting the foreign currency positions of banks, etc.