The fifth option is to tighten fiscal policy and reduce budget deficits with the aim of lowering the high interest rates that drive the inflows. But sounder fiscal policy might lead to even higher inflows as the country’s external balance and sovereign-risk outlook improve.
第五种办法是收紧财政政策、削减预算赤字，从而降低利率，减弱对资本流的吸引力。但是巩固的财政政策会强化该国的对外收支状况，改善主权风险评级，进而吸引更多的资本流入。