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National governments do not try to restrict the ow of

1. How should IMF interventions differ in the cases of ?rst- and second-generation cur- rency crises?

2. "Capital account liberalization is like a medicine that is usually bene?cial but often produces horri?c side effects. Such a medicine cannot be left unregulated." Discuss.

3. National governments do not try to restrict the ?ow of ?nances between regions and sectors within a country. Why should they therefore use capital controls to restrict ?ows of ?nance between nations?

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