Capital Flows to Developing Countries of the International Financial System

This study has been prepared within the UNU/WIDER project on new Roles and Functions for the United Nations and the Bretton Woods Institutions, which is directed by Professor Deepak Nayyar, Unviersity of Delhi.
The paper begins with surveys of major features of the postwar evolution of the system of governance of the international financial system and of the principal trends in capital flows to developing countries during the past three decades.
The paper puts special emphasis on the maintenance by developing countries of national autonomy regarding policy towards capital movements.