Buch, Claudia M.; Hanschel, Elke - 1999
in 1995. We find that the URR has not been effective in reducing overall inflows of foreign capital. Hence, the gain in … monetary autonomy has been limited. While the overall structure of capital inflows has not differed decidedly from that of … that the volatility of exchange rates has declined after the imposition of the URR while the volatility of capital flows …