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The Interaction Between Capital Controls and Exchange Rate Regimes: Evidence from Developing Countries
von Hagen, Jürgen; Zhou, Jizhong - C.E.P.R. Discussion Papers - 2006
The choice of the exchange rate regime and the capital account regime are among the core macro economic policy decisions for developing countries, with important repercussions for a country's macro economic stability, ability to attract foreign capital, and international trade. Existing...
Persistent link: https://www.econbiz.de/10005136430
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Capital controls and foreign exchange policy
Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2012
The empirical analysis of the paper suggests that an FX policy objective and concerns about an overheating of the domestic economy have been the two main motives for the (re-)introduction and persistence of capital controls over the past decade. Capital controls are strongly associated with...
Persistent link: https://www.econbiz.de/10011083774
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Macroprudential Policies in a Global Perspective
Jeanne, Olivier - C.E.P.R. Discussion Papers - 2014
This paper analyzes the case for the international coordination of macroprudential policies in the context of a simple theoretical framework. Both domestic macroprudential policies and prudential capital controls have international spillovers through their impact on capital flows. The...
Persistent link: https://www.econbiz.de/10011084357
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The Financial Resource Curse
Benigno, Gianluca; Fornaro, Luca - C.E.P.R. Discussion Papers - 2013
This paper presents a model of financial resource curse, i.e. episodes of abundant access to foreign capital coupled with weak productivity growth. We study a two-sector, tradable and non-tradable, small open economy. The tradable sector is the engine of growth, and productivity growth is...
Persistent link: https://www.econbiz.de/10011084525
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Capital Controls and Macroprudential Measures: What Are They Good For?
Forbes, Kristin; Fratzscher, Marcel; Straub, Roland - C.E.P.R. Discussion Papers - 2014
Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...
Persistent link: https://www.econbiz.de/10011084623
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The International Financial Integration of China and India
Lane, Philip R.; Schmukler, Sergio - C.E.P.R. Discussion Papers - 2006
Three main features characterize the international financial integration of China and India. First, while only having a … “short equity, long debt.” Third, China and India have improved their net external positions over the last decade although …. Changes in these factors will affect the international financial integration of China and India (through shifts in capital …
Persistent link: https://www.econbiz.de/10005662395
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On the Distribution of Exchange Rate Regime Treatment Effects on International Trade
Dorn, Sabrina; Egger, Peter - C.E.P.R. Discussion Papers - 2011
This paper provides evidence of heterogeneous treatment effects on trade from switching among three types of de-facto exchange rate regimes: freely floating, currency bands, and pegs or currency unions. A cottage literature at the interface of macroeconomics and international economics focuses...
Persistent link: https://www.econbiz.de/10009365643
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Monetary Accommodation, Exchange Rate Regimes and Inflation Persistence
Alogoskoufis, George - C.E.P.R. Discussion Papers - 1991
This paper investigates the relation between the dynamics of inflation and international monetary and exchange rate regimes in the industrial economies. It demonstrates that fixed exchange rate regimes like the international gold standard and the Bretton Woods gold dollar standard appear to be...
Persistent link: https://www.econbiz.de/10005666896
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Fiscal Discipline and Exchange Rate Regimes
Canzoneri, Matthew B; Cumby, Robert; Diba, Behzad - C.E.P.R. Discussion Papers - 1998
This paper explores the implications of a new theory of price determination (due to Leeper, Woodford and Sims) for the maintenance of various exchange rate systems – crawling pegs, fixed pegs, and common currency areas. It shows that deeper monetary integration requires more fiscal discipline,...
Persistent link: https://www.econbiz.de/10005788891
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The Choice of Exchange Rate Regime in Developing Countries: A Multinational Panel Analysis
von Hagen, Jürgen; Zhou, Jizhong - C.E.P.R. Discussion Papers - 2004
This Paper analyses the choices of exchange rate regimes in developing countries since 1980. Static and dynamic random-effects multinomial panel models are estimated using simulation-based techniques. Explanatory variables include OCA fundamentals, stabilization considerations, currency crises...
Persistent link: https://www.econbiz.de/10005789054