21 April 2026 - 24 April 2026

Online Course

Host: The SEACEN Centre

SEACEN Foundational Online Course on Open Macroeconomy and External Sector Analysis I: Capital Account Liberalisation and Capital Flows Monitoring and Management

Description

This online course provides modular yet comprehensive discussions on macroeconomic and monetary policy issues, focusing on external sector issues, including policy and risk spillovers. This foundational course will cover wide range of concepts, theories, case studies, and applications of capital account liberalisation and capital flows monitoring and management. It provides practical knowledge in assessing the benefits and costs as well as sequencing capital account liberalisation. It will also discuss various datasets and empirical techniques used in examining the patterns, drivers, and impacts of capital flows, including various policy measures used to address volatile capital flows. 

Objectives

At the end of the course, participants will be able to:

  • Discuss the benefits and sequencing of capital account liberalisation;
  • Elaborate on case studies on capital account liberalisation;
  • Analyse the evolving patterns of capital flows;
  • Identify and explain the determinants and impacts of capital flows;
  • Identify various policy tools used in managing capital flows;
  • Describe the role of global banks in international funding markets; and
  • Recognize the policy challenges of managing capital flows.

 

Target Participants

Middle-level officers/technical staff of central banks/monetary authorities with at least two years of relevant experience in monetary and financial policy, and external sector analyses are encouraged to participate. A strong background in international macroeconomics is an advantage. Knowledge of various external sector accounts and empirical methods are useful.

 

Software Requirements: This course will be delivered online via MS Teams platform. Several software packages will also be used throughout the course. While neither required nor essential, some experience in using Excel, EViews, MATLAB, Stata, and/or R is beneficial.

 

Potential Topics

All topics will be delivered through a combination of lectures and exercises/workshops:

 

  • Costs and benefits capital account liberalisation;
  • Sequencing of capital account liberalisation;
  • Balance of Payments Statistics and International Investment Position;
  • Identify and explain the determinants and impacts of capital flows;
  • Identify various policy tools used in managing capital flows;
  • Empirical methods in assessing extreme episodes of capital flows, benchmarking capital flows, and capital flows-at-risk

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