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Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data
Prati, Alessandro - 2009
We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency...
Persistent link: https://www.econbiz.de/10012677885
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The Persistence of Capital Account Crises
Mecagni, Mauro - 2009
This study contributes to the literature on capital account crises in two ways. First, our analysis of crisis episodes between 1994 and 2002 establishes a clear relationship between the persistence of crises, their complexity, and the intensity of movement of key macroeconomic variables. Second,...
Persistent link: https://www.econbiz.de/10012677778
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Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows
Binici, Mahir - 2009
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...
Persistent link: https://www.econbiz.de/10012677882
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Macroprudential Policies and Capital Controls Over Financial Cycles
Arakelyan, Maria - 2023
In this paper we assess the effectiveness of macroprudential policies and capital controls in supporting financial stability. We construct a large and granular dataset on prudential and capital flow management measures covering 53 countries during 1996-2016. Conditional on a credit boom, we...
Persistent link: https://www.econbiz.de/10015059217
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One-Size-Fits-One : Tailor-Made Fiscal Responses to Capital Flows
Zakharova, Daria - 2008
This paper surveys policy responses in recent years to capital inflows in a diverse group of countries that are represented by the Netherlands at the IMF Executive Board. Based on the findings from cross-country empirical literature, the paper distills some guiding principles for policy...
Persistent link: https://www.econbiz.de/10014409078
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Corruption and Technology-Induced Private Sector Development.
Yehoue, Etienne B - 2006
Persistent link: https://www.econbiz.de/10013042567
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Corruption Kills: Global Evidence from Natural Disasters
Cevik, Serhan - 2023
corruption increases the loss of human lives caused by natural disasters, using a large panel of 135 countries during the period … 1980-2020. The econometric analysis provides convincing evidence that corruption increases the number of disaster … corruption in a given country, the greater the number of fatalities as a share of population due to natural disasters. Our …
Persistent link: https://www.econbiz.de/10015059047
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Development of the Renminbi Market in Hong Kong SAR: Assessing Onshore-Offshore Market Integration
Craig, R. Sean; Hua, Changchun; Ng, Philip; Yuen, Raymond - International Monetary Fund (IMF) - 2013
Offshore use of the renminbi expanded rapidly in Hong Kong SAR as China sought to develop an international role for its currency while maintaining capital controls. This prompts two questions addressed in this paper: How far advanced is renminbi internationalization? And, what role does Chinese...
Persistent link: https://www.econbiz.de/10010731929
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Regulating Capital Flows at Both Ends: Does it Work?
Ghosh, Atish R.; Qureshi, Mahvash Saeed; Sugawara, Naotaka - International Monetary Fund (IMF) - 2014
This paper examines whether cross-border capital flows can be regulated by imposing capital account restrictions (CARs) in both source and recipient countries, as was originally advocated by John Maynard Keynes and Harry Dexter White. To this end, we use data on bilateral cross-border bank flows...
Persistent link: https://www.econbiz.de/10011142196
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Capital Account Liberalization and Wage Inequality: Evidence from Firm Level Data
Eklou, Kodjovi - 2023
Firms play an important role in shaping income inequality at the aggregated country level, given that wages represent a significant proportion of household income. We investigate the distributional consequences of capital account liberalization, relying on firm level data to explore the...
Persistent link: https://www.econbiz.de/10015059648