Narrow search
Showing 1 - 10 of 1,984
Cover Image
Capital Controls in Brazil - Stemming a Tide with a Signal?
Jinjarak, Yothin - 2013
implementing them. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the … synthetic control method, we construct counterfactuals (i.e., Brazil with no policy change) for each of these changes. We find … regarding the government's larger intentions and sensibilities. Brazil's left-of-center government's willingness to remove …
Persistent link: https://www.econbiz.de/10012459458
Cover Image
Ineffective Controls on Capital Inflows Under Sophisticated Financial Markets : Brazil in the Nineties
Carvalho, Bernardo S. de M - 2006
We analyze the Brazilian experience in the 1990s to assess the effectiveness of controls on capital inflows in restricting financial inflows and changing their composition towards long term flows. Econometric exercises (VARs) showed that controls on capital inflows were effective in deterring...
Persistent link: https://www.econbiz.de/10012466385
Cover Image
Bubble Thy Neighbor : Portfolio Effects and Externalities from Capital Controls
Forbes, Kristin - 2012
We use changes in Brazil's tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and …. We find that an increase in Brazil's tax on foreign investment in bonds causes investors to significantly decrease their … portfolio allocations to Brazil in both bonds and equities. Investors simultaneously increase allocations to other countries …
Persistent link: https://www.econbiz.de/10012460607
Cover Image
How Effective are Capital Controls?
Edwards, Sebastian - 1999
In the aftermath of the East Asian crisis a number of authors have argued that capital mobility is highly destabilizing, and that emerging countries would benefit from restricting capital flows. In this paper I investigate, from a historical perspective, the effectiveness of capital controls. I...
Persistent link: https://www.econbiz.de/10012471368
Cover Image
Excessive Volatility in Capital Flows : A Pigouvian Taxation Approach
Jeanne, Olivier - 2010
This paper analyzes prudential controls on capital flows to emerging markets from the perspective of a Pigouvian tax that addresses externalities associated with the deleveraging cycle. It presents a model in which restricting capital inflows during boom times reduces the potential outflows...
Persistent link: https://www.econbiz.de/10012462724
Cover Image
Controls on Capital Inflows : Do they Work?
De Gregorio, Jose - 2000
This paper analyzes the effectiveness of capital controls, in particular the Chilean experience with the use of the unremunerated reserve requirement. We examine the effects on interest rates, real exchange rate, and the volume and composition of capital inflows. The effects are elusive and it...
Persistent link: https://www.econbiz.de/10012471122
Cover Image
The Chinese Approach to Capital Inflows : Patterns and Possible Explanations
Prasad, Eswar - 2005
In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent...
Persistent link: https://www.econbiz.de/10012467378
Cover Image
Temporary Controls on Capital Inflows
Reinhart, Carmen M. - 2001
During the past decade a number of countries imposed capital controls that had two distinguishing features: they were asymmetric, in that they were designed principally to discourage capital inflows, and they were temporary. This paper studies formally the consequences of these policies,...
Persistent link: https://www.econbiz.de/10012470297
Cover Image
Private Inflows when Crises are Anticipated : A Case Study of Korea
Dooley, Michael P. - 2000
Models of financial crises based on distortions in capital markets have strong implications for the behavior of investors leading up to crises. In this paper we evaluate the hypothesis that deregulation of financial markets in Korea provided the incentives and opportunities for a sequence of...
Persistent link: https://www.econbiz.de/10012470739
Cover Image
Managing Capital Inflows : The Role of Capital Controls and Prudential Policies
Qureshi, Mahvash S. - 2011
We examine whether macroprudential policies and capital controls can contribute to enhancing financial stability in the face of large capital inflows. We construct new indices of foreign currency (FX)-related prudential measures, domestic prudential measures, and financial-sector capital...
Persistent link: https://www.econbiz.de/10012461295