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India's approach to capital account liberalization

Prasad, Eswar S. - 2009

In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has … the key challenge now facing India's policymakers on this front. …

Persistent link: https://www.econbiz.de/10010269146

When is foreign exchange intervention effective? Evidence from 33 countries

Fratzscher, Marcel; Gloede, Oliver; Menkhoff, Lukas; … - 2017

This study examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. The policy works well in terms of smoothing...

Persistent link: https://www.econbiz.de/10011641018

Emerging economies' supply shocks and Japan's price deflation: International transmissions in a three-country DSGE model

Hirakata, Naohisa; Iwasaki, Yuto; Kawai, Masahiro - 2014

This paper examines the international transmission effects that a positive supply shock in emerging economies may have on inflation in developed economies. We construct a dynamic stochastic general equilibrium (DSGE) model for three countries and analyze the impact of a supply shock in an...

Persistent link: https://www.econbiz.de/10010397229

Capital controls, exchange rate volatility and risk premium

Frenkel, Michael; Stadtmann, Georg - 2002

Capital controls lower the variability of the exchange rate and reduce the risk premium as well as the domestic interest rate. On the other hand, capital controls reduce the number of noise traders and, therefore, the risk-bearing capacity of the market, leading to higher interest rates and a...

Persistent link: https://www.econbiz.de/10010301757

Capitals controls and macroprudential measures: What are they good for?

Forbes, Kristin; Fratzschner, Marcel; Straub, Roland - 2013

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...

Persistent link: https://www.econbiz.de/10010327856

Capital controls and foreign exchange policy

Fratzscher, Marcel - 2012

The empirical analysis of the paper suggests that an FX policy objective and concerns about an overheating of the domestic economy have been the two main motives for the (re-)introduction and persistence of capital controls over the past decade. Capital controls are strongly associated with...

Persistent link: https://www.econbiz.de/10011605460

Domestic and multilateral effects of capital controls in emerging markets

Bijsterbosch, Martin; Falagiarda, Matteo; Pasricha, Gurnain - 2015

. Using panel near-VARs, we find significant spillovers of capital control actions in BRICS (Brazil, Russia, India, China and …

Persistent link: https://www.econbiz.de/10011605889

Insuring against private capital flows: is it worth the premium? ; What are the alternatives?

Bibow, Jörg - 2008

Following an analysis of the forces behind the global capital flows paradox" observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We reject the idea of reserves as low-cost...

Persistent link: https://www.econbiz.de/10010266434

Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies

Bibow, Jörg - In: Intervention. European Journal of Economics and … 07 (2010) 2, pp. 325-359

This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...

Persistent link: https://www.econbiz.de/10014363101

The case for capital account management in emerging market economies: The experiences of the BRICs

Bibow, Jörg - In: Intervention. European Journal of Economics and … 09 (2012) 1, pp. 57-90

tolerating such inflows. The paper investigates the experiences of Brazil, Russia, India and China (the BRICs) in the global …

Persistent link: https://www.econbiz.de/10014363140

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