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international capital flows: Structural reforms and experience with the OECD code of Liberalisation of capital Movements Report from the OECD to the G20 Sub-Group on capital Flow Management June 2011 TABLE OF CONTENTS 1. Trends in international capital flows .. 1 2. How can countries make the most of international capital flows? .. 2 3. What moved OECD countries to adopt the code ? .. 4 A legal framework .. 5 Dialogue and peer review .. 6 4. How have adherents accommodated specific country circumstances and approaches? .. 6 Countries reservation lists .. 7 Countries in the process of development .. 7 What did recent adherents agree on when joining the code ?.. 8 5. Protection of policy space .. 9 6. How have countries dealt with volatile capital flows and episodes of instability in the context of the code ? .. 10 Special treatment of short-term capital flows.
1 International capital flows: Structural reforms and experience with the OECD Code of Liberalisation of Capital Movements The dramatic increase in international capital flows, despite a temporary contraction during the global
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