Joseph Stiglitz, Nobel de economía, ha dicho que los países emergentes debieran ser capaces de controlar el flujo de capital desde naciones desarrolladas para prevenir el desarrollo de burbujas.
Joseph Stiglitz, the Nobel Prize-winning economist, said emerging countries should be able to control the flow of capital from developed nations to keep asset bubbles from developing.
Stiglitz, speaking at a conference in Atlanta, said there is “a real concern in emerging markets” that low interest rates in developed nations including the U.S. and the UK are “being transmitted to bubbles in emerging markets.” As a result, countries such as Brazil and India “have to put on circuit breakers.”
“Most of the shocks do come from the supply side, from the creditor countries,” Stiglitz said Sunday at a conference sponsored by the Allied Social Science Associations.Brazil in November began taxing the issuance of depositary receipts in international markets in a bid to prevent companies from selling shares abroad rather than locally.
Brazilian stocks had their biggest annual rise in six years and the real gained the most since its 1993 creation as Latin America's largest economy pulled out of a recession faster than most nations.
The benchmark Bovespa stock index rallied 83 percent in 2009. The real jumped 33 percent against the U.S. dollar for the biggest gain among the 16 most-traded currencies.
Stiglitz, 66, is a professor at Columbia University in New York and a former White House economic adviser under President Bill Clinton. He shared the Nobel Prize in 2001 with George Akerlof and Michael Spence for work on problems that arise in markets when parties don't have equal access to information.
Etiquetas de Technorati: Joseph E. Stiglitz,economías emergentes,control de flujo de capitales,prevención,burbuja,crisis
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