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Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia
Clements, Benedict J. - 2009
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate … the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that …
Persistent link: https://www.econbiz.de/10012677725
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The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector
Mercer-Blackman, Valerie - 2008
-2002 Survey of Manufacturers database in Colombia to analyze this question. We estimate the effect of the R&D tax deduction … instituted in Colombia using Zellner's Seemingly Unrelated Regressions method, and find that the elasticity of demand of R …&D investment in manufacturing is quite high in Colombia compared to other countries, particularly for smalle …
Persistent link: https://www.econbiz.de/10012677634
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Social Security Reforms in Colombia
Clavijo, Sergio - 2009
of public health care in Colombia during 1993-2008. Parametric pension reforms have focused on increasing the retirement … security system in Colombia is roughly 160 percent of GDP for pensions and about 97 percent of GDP for the health system …
Persistent link: https://www.econbiz.de/10012677742
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The role of risk and information for international capital flows : new evidence from the SDDS
Hashimoto, Yūko; Wacker, Konstantin - 2012
In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance...
Persistent link: https://www.econbiz.de/10009659821
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International capital flows and debt dynamics
Evans, Martin D. D. - 2012
This paper presents a new model for studying international capital flows and debt dynamics that emphasizes the role played by expectations concerning future trade flows and returns. I use the model to estimate the drivers of the U.S. external position and capital flows between 1973 and 2008. The...
Persistent link: https://www.econbiz.de/10009621004
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Exchange rate fluctuations and international portfolio rebalancing in Thailand
Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip - 2012
We present empirical evidence that the Thai baht's value is driven in part by investors' cross-border equity portfolio rebalancing decisions. Our results are based on comprehensive datasets of FX and stock market transactions undertaken by nonresident investors in Thailand in 2005 and 2006....
Persistent link: https://www.econbiz.de/10009621634
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Private information, capital flows, and exchange rates
Gyntelberg, Jacob; Loretan, Mico; Subhanij, Tientip - 2012
We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent impact on exchange rates, whereas capital flows induced by foreign investors'...
Persistent link: https://www.econbiz.de/10009621637
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Capital Flows to Central and Eastern Europe.
Milesi-Ferretti, Gian Maria - 2006
Intro -- Contents -- I. INTRODUCTION -- II. THE MAIN STYLIZED FACTS: AGGREGATE DATA -- III. THE MAIN STYLIZED FACTS: BILATERAL DATA -- IV. CAPITAL FLOWS AND EXTERNAL ADJUSTMENT -- V. CONCLUDING REMARKS -- REFERENCES.
Persistent link: https://www.econbiz.de/10012690974
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External Financing of Emerging Market Countries : Evidence from Two Waves of Financial Globalization
Faria, André - 2006
Persistent link: https://www.econbiz.de/10012690986
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Financial Globalization : A Reappraisal
Rogoff, Kenneth - 2006
Intro -- Contents -- EXECUTIVE SUMMARY -- I. INTRODUCTION -- II. A BRIEF OVERVIEW OF THEORY -- III. MEASURING FINANCIAL OPENNESS -- IV. PATTERNS OF FINANCIAL GLOBALIZATION -- V. MACROECONOMIC EVIDENCE ON EFFECTS OF FINANCIAL GLOBALIZATION -- VI. HOW DOES THE COMPOSITION OF CAPITAL FLOWS MATTER?...
Persistent link: https://www.econbiz.de/10012690991