Effectiveness of Capital Outflow Restrictions /

This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce net...

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Автор: Saborowski, Christian
Інші автори: Sanya, Sarah, Weisfeld, Hans, Yepez, Juan
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 2014.
Серія:IMF Working Papers; Working Paper ; No. 2014/008
Онлайн доступ:Full text available on IMF
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100 1 |a Saborowski, Christian. 
245 1 0 |a Effectiveness of Capital Outflow Restrictions /  |c Christian Saborowski, Sarah Sanya, Hans Weisfeld, Juan Yepez. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2014. 
300 |a 1 online resource (34 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 This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce net capital outflows. We find that such tightening is effective if it is supported by strong macroeconomic fundamentals or good institutions, or if existing restrictions are already fairly comprehensive. When none of these three conditions is fulfilled, a tightening of restrictions fails to reduce net outflows as it provokes a sizeable decline in gross inflows, mainly driven by foreign investors. 
538 |a Mode of access: Internet 
700 1 |a Sanya, Sarah. 
700 1 |a Weisfeld, Hans. 
700 1 |a Yepez, Juan. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2014/008 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2014/008/001.2014.issue-008-en.xml  |z IMF e-Library