'Present global crisis is comparable to Lehman shock of 2008'
Agencies: Singapore, Dec 11 2012, 12:48 IST
a better management of the capital flow, especially regulatory measures to ensure such capital flow was held for a period of six months to nine months to protect the Asian markets.
A sudden stop and reversal of capital flow or hot money would hurt the Asian markets, he said.
ADB economist Sabyasachi Mitra pointed out Indonesia had already set up regulatory mechanisms years ago to hold capital flow for a period of six months to nine months for maintaining capital stability.
Such measures were now supported by the International Monetary Fund for economic stability though it had not done so in the past for freer economies, he said.
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