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Capital Controls and Monetary Policy in Developing Countries This paper looks at both the theoretical and empirical literatu
Capital Controls and Monetary Policy in Developing Countries This paper looks at both the theoretical and empirical literatu
admin
2012-01-23
31
问题
Capital Controls and Monetary Policy in Developing Countries
This paper looks at both the theoretical and empirical literature on capital controls and finds that controls can play an important role in developing countries by helping to insulate them from some of the harmful (21) of volatile and short-term capital flows.
The authors look at controls on capital inflows in Malaysia (1989-1995); Colombia (1993-1998); Chile (1989-1998); and Brazil (1992-1998), and also consider the (22) of Malaysia’s controls on outflows in 1998-2001. They conclude that there is sufficient backing in both economic theory and empirical evidence to consider more widespread (23) of capital controls in order to (24) some of the macroeconomic problems (25) with short-term capital flows, to enable certain development strategies, and to allow policymakers more flexibility with regard to crucial monetary and exchange rate policies.
The paper follows what appears to be a shift in the position of the International Monetary Fund (IMF) towards such controls. In a February paper, the IMF concluded that "there may be (26) in which capital controls are a legitimate (27) of the policy (28) to surges in capital inflows. " The Fund’s Global Financial Stability Report (29) in April 2010 was less sanguine about capital controls, but the net result is that the IMF appears more open to (30) capital controls than in the past.
选项
A、released
B、published
C、announced
D、issuing
答案
A
解析
词义辨析加综合考查题。此处需要置入一个非谓语动词形式来引导可以修饰限定主语report的定语部分。A项意为“发布”;B项意为“出版”;C项意为“宣布”;D项意为“发布”。此时我们可以判断由于report与其后动名词所表达动作构成被动关系,所以应置入动词的被动形式。故根据该句表达的意思,判断A项为正确答案。
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BEC高级阅读题库BEC商务英语分类
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