Effectiveness of Capital Outflow Restrictions

Released on by Christian Saborowski
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  • Effectiveness of Capital Outflow Restrictions Book Detail

  • Author : Christian Saborowski
  • Release Date : 2014-01-21
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 34
  • ISBN 13 : 1484379756
  • File Size : 74,74 MB
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Effectiveness of Capital Outflow Restrictions by Christian Saborowski PDF Summary

Book Description: 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.

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Capital Flows to Brazil

Capital Flows to Brazil

File Size : 4,4 MB
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This paper creates an index of capital controls to analyze the determinants of capital flows to Brazil, accounting for the endogeneity of capital controls by co