ODG

Capital Controls: A practical guide


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By Costas Lapavitsas, Daniel Munevar and Sergi Cutillas

This report, written by members of the ODG, the CADTM and RMF, explains the great importance of capital controls policies (restriction of the free movement of capital) for the proper functioning of economies.

Capital controls have been widely rejected by the conventional theory for decades. Even heterodox economists have treated them  with skepticism. However, evidence shows that these policies are effective and necessary to protect the economy from the vagaries of the markets, and to implement progressive economic measures.

Currently these policies are particularly important, as they should be applied in case of abolition of debt, exit from the Euro and currency devaluation as an integral part of a project to build a more solidary, sovereign and just economy.

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