Economic and Financial Review


Central Bank of Nigeria


Capital Flows, Exchange Rate Regimes, Capital Control


The objective of this presentation is to examine the importance of capital controls on the flow of foreign capital under the current circumstance for the benefit of the Nigerian economy. Part II of the paper will look into some critical issues in the global capital flows by identifying the principal agents; structure and trends of the flows; effects; and policy options in managing the flows. In Part III, an attempt is made to review the historical developments of global governance of capital controls since the pre-World War I, while Part IV examines the policy challenges in capital control management strategies. Part V examines the on-going ECOWAS financial integration among its Member States, coming at a time of increasing voice for a return to the Bretton Woods's ideology. Part VI concludes the paper with charting a framework for increasing the resilience of the Nigerian capital flow system.

Author Bio

Jonathan A. Aremu is a consultant with ECOWAS Common Investment Market (ECIM), Abuja.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Aremu, Jonathan A. (2013). Capital Flows, Capital Control and Exchange Rate Regimes. CBN Economic and Financial Review. 51(4), 65-96

Included in

Economics Commons



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