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...

This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external borrowing, but had no statistically significant impact on the volume of non- FDI flows as a...

Intro -- DEBATING THE GLOBAL FINANCIAL ARCHITECTURE -- CONTENTS -- ACKNOWLEDGMENTS -- TABLES -- INTRODUCTION -- I. CORE QUESTIONS AND MENTAL CATEGORIES -- 1. THE TERMS OF THE DEBATE: WHAT'S DEMOCRACY GOT TO DO WITH IT? by Leslie Elliott Armijo -- II. LEADERSHIP AND THE POLITICS OF GLOBAL FINANCE...

Drawing on prominent contributions by economists to the debate on international monetary reform, this book provides an historical perspective on the plans, schemes and ideas on the international financial system

China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop...

Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the...