Capital Controls and the Cost of Debt /

Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. A number of heterogeneities suggest that th...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Andreasen, Eugenia
Muut tekijät: Schindler, Martin, Valenzuela, Patricio
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2017.
Sarja:IMF Working Papers; Working Paper ; No. 2017/135
Linkit:Full text available on IMF
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100 1 |a Andreasen, Eugenia. 
245 1 0 |a Capital Controls and the Cost of Debt /  |c Eugenia Andreasen, Martin Schindler, Patricio Valenzuela. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2017. 
300 |a 1 online resource (26 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 Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. A number of heterogeneities suggest that the effect of capital controls on inflows is particularly strong for more financially constrained firms, establishing a novel channel through which capital controls affect economic outcomes. By contrast, we do not find a robust significant effect of restrictions on outflows. 
538 |a Mode of access: Internet 
700 1 |a Schindler, Martin. 
700 1 |a Valenzuela, Patricio. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2017/135 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2017/135/001.2017.issue-135-en.xml  |z IMF e-Library