In a survey of the global monetary system, The Economist notes that the increased taxes that Brazil and other emerging states have used to slow capital inflows have been endorsed by the IMF (International Monetary Fund).

“For the past decade emerging economies have responded to these surges largely by amassing reserves. They need other options. One, adopted by Brazil, South Korea, Thailand and others, and endorsed by the IMF, is to impose or increase taxes and regulations to slow down inflows. Some academics have suggested drawing up a list of permissible devices, much as the WTO has a list of legitimate trade barriers.”