The Brazilian action in imposing a tax on certain kinds of foreign inflows to moderate the rise in its currency is of great importance, substantive and symbolic. The symbolic value lies in signalling an end to an era in which emerging markets were enamoured with foreign finance, and in expressing willingness to take action to moderate inflows of foreign finance. Substantively, it is important in increasing the arsenal of weapons that countries can deploy to moderate over- heating of their economies. It is a good illustration of the type of measure policymakers can use to arrest incipient asset price overheating.
巴西政府对某些类别的外资流入征税、以抑制本币升值的做法，在实质功效和象征意义上，都极具重要性。其象征意义在于，这标志着新兴市场痴迷于外资的时代已经终结，也表明这些国家愿意采取行动，减缓外资流入。从实质功效角度讲，增加可以动用的政策工具，为manbetx20客户端下载 过热现象降温，对于新兴市场而言十分重要。对于政策制定者可以采用哪种措施来抑制初期资产价格过热现象，这是一个很好的实例。