Using a novel data set on capital control actions in 17 emerging-market economies (EMEs) over the period 2001 - 11, we … provide new evidence on domestic and multilateral (or spillover) effects of capital controls. Our results, based on panel … vector autoregressions, suggest that capital control actions had limited impact on the variables of the monetary policy …

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital … outflow controls in recent decades. Liberalization of capital outflow controls can allow emerging-market economies (EMEs) to … reduce net capital inflow (NKI) pressures, but may cost their governments the fiscal revenues that external financial …

In this paper, we explore the link between stress in the domestic financial sector and the capital flight faced by … the patterns of capital flows during the crisis. While high income countries on average saw net capital inflows and net …