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Opening the Capital Account of Transition Economies: How Much and How Fast
Daianu, Daniel; Vranceanu, Radu - William Davidson Institute, University of Michigan - 2002
In the late eighties, many developing countries followed the example of the most advanced countries and opened their capital account (K.A.) in an attempt to reap new gains from increased integration with the world economy. By 2000, after the wave of financial and currency crises that hurt the...
Persistent link: https://www.econbiz.de/10005207909
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Testing 'the trilemma' in post-transitional Europe: a new empirical measure of capital mobility
Globan, Tomislav - Ekonomski Fakultet, Sveučilište u Zagrebu - 2014
This paper develops a new empirical measure of capital mobility. It tests the hypothesis that the degree of capital mobility can be estimated by measuring the reaction intensity of capital flows to shocks in interest rates, on a sample of eight European post-transitional economies. This...
Persistent link: https://www.econbiz.de/10011076253
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How Effective Are Capital Controls in Asia?
Gochoco-Bautista, Maria Socorro; Jongwanich, Juthathip; … - In: Asian Economic Papers 11 (2012) 2, pp. 122-143
This study examines the effects of capital account restrictions on capital flows in nine emerging Asian economies using panel regressions with 75 economies and fixed effects over the period 1995–2007. The results show that effectiveness of capital controls in the nine emerging Asian economies...
Persistent link: https://www.econbiz.de/10011009833
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Economic and monetary union accession and capital flows
Jonáš, Jiří - In: Prague Economic Papers 2003 (2003) 3
The paper discusses the prospects for capital inflows to the Czech Republic before Economic and Monetary Union accession. It reviews the potential costs and benefits of capital flows and the history of capital flows to the Czech Republic, before turning to future capital inflows. It notes that...
Persistent link: https://www.econbiz.de/10005256974
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How Effective are Capital Controls in Asia?
Gochoco-Bautista,, Maria Socorro; Jongwanich, Juthathip; … - Economics and Research Department, Asian Development Bank - 2011
This study examines the effects of capital account restrictions on capital flows in nine Asian economies over the period 1995–2005 using panel regressions with fixed effects. The results show that capital controls significantly affect capital flows when such flows are disaggregated by asset...
Persistent link: https://www.econbiz.de/10009245399
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International Reserves and Swap Lines in Times of Financial Distress : Overview and Interpretations
Aizenman, Joshua - East Asian Bureau of Economic Research (EABER) - 2010
In this paper I review the use of precautionary measures aimed at mitigating emerging markets exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR) constrained...
Persistent link: https://www.econbiz.de/10009363868
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Effectiveness of Capital Controls: Evidence from Thailand
JONGWANICH, JUTHATHIP; KOHPAIBOON, ARCHANUN - In: Asian Development Review 29 (2012) 2, pp. 50-93
This paper examines the effectiveness of capital account policies in Thailand during the period 1993–2010. Our results show that policies toward capital account liberalization tend to be more effective than those toward capital account restriction in changing the volume of capital flows. The...
Persistent link: https://www.econbiz.de/10010840652
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International gross capital flows: New uses of balance of payments data and application to financial crises
Janus, Thorsten; Riera-Crichton, Daniel - In: Journal of Policy Modeling 35 (2013) 1, pp. 16-28
Most studies of international financial openness and crises link economic performance to either the net inflow of capital or the gross inflow (outflow) defined as the change in foreign (domestic) holdings of domestic (foreign) assets over a period. In this paper we decompose the net inflow into...
Persistent link: https://www.econbiz.de/10010608425
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Globalización, crecimiento y crisis financieras. Lecciones de México y del mundo en desarrollo
Martínez, Lorenza; Tornell, Aarón; Westermann, Frank - In: El Trimestre Económico LXXI (2) (2004) 282, pp. 251-351
then, how can we explain the less-than-stellar growth performance of Mexico, a prominent liberalizer and member of NAFTA … by liberalization lead to higher growth and, as a by-product, to financial fragility. By comparing Mexico to this …, ¿cómo podemos explicar el mediocre desempeño del crecimiento económico en México, un prominente liberador y miembro del …
Persistent link: https://www.econbiz.de/10004995009
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Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - National Bureau of Economic Research (NBER) - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10005774743