Controlling Capital? : Legal Restrictions and the Asset Composition of International Financial Flows /

How effective are capital account restrictions? We provide new answers based on a novel panel data set of capital controls, disaggregated by asset class and by inflows/outflows, covering 74 countries during 1995-2005. We find the estimated effects of capital controls to vary markedly across the type...

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Автор: Binici, Mahir
Інші автори: Hutchison, Michael, Schindler, Martin
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2009.
Серія:IMF Working Papers; Working Paper ; No. 2009/208
Онлайн доступ:Full text available on IMF
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100 1 |a Binici, Mahir. 
245 1 0 |a Controlling Capital? :   |b Legal Restrictions and the Asset Composition of International Financial Flows /  |c Mahir Binici, Michael Hutchison, Martin Schindler. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2009. 
300 |a 1 online resource (32 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a How effective are capital account restrictions? We provide new answers based on a novel panel data set of capital controls, disaggregated by asset class and by inflows/outflows, covering 74 countries during 1995-2005. We find the estimated effects of capital controls to vary markedly across the types of capital controls, both by asset categories, by the direction of flows, and across countries' income levels. In particular, both debt and equity controls can substantially reduce outflows, with little effect on capital inflows, but only high-income countries appear able to effectively impose debt (outflow) controls. The results imply that capital controls can affect both the volume and the composition of capital flows. 
538 |a Mode of access: Internet 
700 1 |a Hutchison, Michael. 
700 1 |a Schindler, Martin. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2009/208 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2009/208/001.2009.issue-208-en.xml  |z IMF e-Library