Training Catalog Course Details

Junior to mid-level policy makers in central banks and finance ministries who have policy responsibilities related to capital flow management and liberalization. No prior knowledge of the material is required.

Participants are expected to have an advanced degree in economics or equivalent experience, good quantitative skills, and a basic knowledge of Microsoft Excel. It is recommended that applicants have taken either the Financial Programming and Policies (FPP) or the Macroeconomic Diagnostics (MDS) course.

This two-week course is devoted to fostering the understanding of the dynamics of capital flows and their effects on growth, macroeconomic volatility, and crisis risk. The course discusses the policy options available to reap the benefits of capital market integration while minimizing and mitigating its adverse consequences.

Through studies of actual crises, participants will learn how policy settings and failures in recognizing and addressing the buildup of vulnerabilities lead to crisis. They will also study what policies different countries put in place to stabilize the economy and how the economy evolved and recovered.

Topics to be covered include the benefits and costs of financial integration; the capital inflow problem; and models of currency crises and sudden stops of capital inflows. Workshops and case studies are important components of the course. They allow the participants to grasp better the concepts and to take advantage of the experience of the instructors.

• Course Structure and Standard Syllabus