Laba I. Government regulation of international capital flows in small open economies.

The thesis researches theoretical and methodological principles of government policy of international capital flows management and carries out macroeconomic analysis of the effectiveness of such policy in small open economies. Main theoretical approaches concerning the essence of international capital movements and peculiarities of their government regulation are generalized. The effect of the transmission mechanism of capital inflow and outflow disturbances on the main indicators of macroeconomic environment under different monetary regimes and exchange rates are studied out, and the evolution of views of the main economic schools and directions of economic science on international capital flows and the role of government in their regulation is investigated. An assessment of the government regulation rate of different types of capital inflows and outflows in small open economies is carried out. The causes, instruments and consequences of government regulation of international capital flows are analyzed during and after the global financial crisis of 2008–2009 in Brazil, Iceland and Ukraine. The views of leading international financial institutions concerning financial liberalization and government regulation of international capital flows are traced; and the directions of increasing the efficiency of international capital flows government regulation in small open economies with underdeveloped institutional environment are defined.