For most emerging economies, however, intervention is more about coping with volatile capital flows.

ECONOMIST: Currencies

And financial uncertainty, together with sharp shifts in risk appetite, has led to volatile capital flows.

FORBES: Global Economic Fundamentals Not-So-Sound

We at the Centre for Research into Economics and Finance in Southern Africa, at the London School of Economics, and External Finance for Africa are involved in projects in more than 15 African countries aimed at enhancing their ability to monitor and to manage volatile international capital flows.

ECONOMIST: Letters

The challenges posed by volatile cross-border capital flows make institution-building a top priority in all of these countries.

ECONOMIST: Letters

These capital flows were far more volatile than today.

ECONOMIST: Business books (5)

Instead, most hope that controls on short-term capital flows might make them less volatile.

ECONOMIST: Time to turn off the tap?