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Capital Flows, Real Exchange Rates, and Capital Controls : Some Latin American Experiences
Edwards, Sebastian - 2021
analysis of Chile's recent experiences with capital controls and make some comparisons to the recent experiences of Columbia … that capital controls in Chile have had mixed results: while they have allowed the Central Bank to have a greater degree of …
Persistent link: https://www.econbiz.de/10013249239
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On the International Financial Architecture : Insuring Emerging Markets
Caballero, Ricardo J. - 2010
In spite of significant institutional and macroeconomic reforms over the last decade or two, capital flows to developing economies remain highly volatile. In 1996, net private capital flows to emerging markets reached US$230 billions; by 1997 these flows had been cut in half; by 1998 halved...
Persistent link: https://www.econbiz.de/10012762843
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Capital Mobility and Exchange Market Intervention in Developing Countries
Dooley, Michael P. - 2010
This paper develops a new technique for measuring changes in the degree of capital mobility confronting a developing country that has restrictions on capital flows and official ceilings on domestic interest rates. Because such official controls rule out the use of traditional interest rate...
Persistent link: https://www.econbiz.de/10012763638
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Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries
Aizenman, Joshua - 2013
This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...
Persistent link: https://www.econbiz.de/10013075864
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Capital Account Liberalization, Institutional Quality and Economic Growth : Theory and Evidence
Klein, Michael W. - 2021
This paper shows that the effect of capital account liberalization on growth depends upon the environment in which that policy occurs. A theoretical model demonstrates the possibility of an inverted-U shaped relationship between the responsiveness of growth to capital account liberalization and...
Persistent link: https://www.econbiz.de/10013228265
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Capital Account Liberalization, Institutions and Financial Development : Cross Country Evidence
Chinn, Menzie David; Itō, Hiro - 2021
The empirical relationship between capital controls and the financial development of credit and equity markets is examined. We extend the literature on this subject along a number of dimensions. Specifically, we (1) investigate a substantially broader set of proxy measures of financial...
Persistent link: https://www.econbiz.de/10013220920
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Capital Controls : Myth and Reality - a Portfolio Balance Approach
Magud, Nicolas - 2011
country cases (Chile and Malaysia). In this paper, we attempt to address some of these shortcomings by: being very explicit … bring to bear the experiences of less well known episodes than those of Chile and Malaysia. Then, using a portfolio balance …
Persistent link: https://www.econbiz.de/10013129216
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Interest Rates, Contagion and Capital Controls
Edwards, Sebastian - 2021
the type Chile implemented throughout most of the 1990s reduce a country's vulnerability to contagion. I also deal, albeit … presented in this paper shows that the effectiveness of Chile's controls on inflows has often been overstated. Indeed, Chile was …
Persistent link: https://www.econbiz.de/10013231414
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Exchange Rate Regimes, Capital Flows and Crisis Prevention
Edwards, Sebastian - 2021
In this paper I analyze, within the context of the new 'financial architecture,' the relationship between exchange rate regimes, capital flows and currency crises in emerging economies. The paper draws on lessons learned during the 1990s, and deals with some of the most important policy...
Persistent link: https://www.econbiz.de/10013231996
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International Borrowing, Capital Controls and the Exchange Rate : Lessons from Chile
Cowan, Kevin; De Gregorio, Jose - 2021
, financial regulations and the exchange rate regime. The focus is on the period after 1990, the period when Chile returned to … international capital markets. We also discuss the early 80s, where a currency collapse triggered a financial crisis in Chile … Asian-Russia crisis, showing that Chile did not suffer a sudden-stop, but a current account reversal due to policy reactions …
Persistent link: https://www.econbiz.de/10013248278