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

Released on by Mr.Martin Schindler
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  • Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows Book Detail

  • Author : Mr.Martin Schindler
  • Release Date : 2009-09-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 34
  • ISBN 13 : 1451873557
  • File Size : 9,9 MB
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Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows by Mr.Martin Schindler PDF Summary

Book Description: 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.

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Capital Control Measures

Capital Control Measures

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This paper presents a new dataset of capital control restrictions on both inflows and outflows of 10 categories of assets for 100 countries over the period 1995