However, it is also increasingly recognized that a high degree of financial openness may entail significant short-term costs as well. Under such conditions, abrupt changes in market sentiment may entail large economic costs. It also fosters capacity building in training institutions and organizations worldwide. Specialized training activities focus at the present on issues associated with the management of capital flows, finance and portfolio management, and advanced economic policy. The standard format of the core course delivered in the field is 10 working days.
All sessions provide an overview of analytical issues and a discussion of policy implications.
Lecturers include Bank and IMF staff, as well as policy-oriented academic researchers. Course materials include printed materials and software applications.