The paper describes the insights which trade theory can provide into economic developments in Ireland during the 1930s. First, a version of Ronald Jones's "specific factors" model is applied to the period after 1932, when a policy which combined industrial tariff protection and controls on...

The assessment of the Slovenian central bank, the Bank of Slovenia (BS), adjustment policy to surges in capital flows has shown that BS was quite successful in its attempts to mitigate detrimental effects of capital flows on national economy. As such an increased flows through capital account...

Malaysia is a small country but has big achievement in economic development to its credit. This year (August 2007) the country celebrates the completion of the first 50 years of its independence. It is in the fitness of things that this paper takes a look at its economic achievements over the...

This paper analyses, from a public-finance perspective, the theoretical underpinnings and the empirical relevance of the phenomenon of financial repression. The analysis explicitly accounts for the interaction between capital controls and financial repression. The proposed empirical estimate of...

One of the reasons for governments to use capital controls is to obtain some degree of monetary independence. This paper investigates the link between capital controls and interest differentials/ forward premia. This to test whether they can indeed give governments the power to drive exchange...

The paper discusses the process of financial liberalization in Greece and the impact it is likely to have on the conduct of monetary policy. To examine the effectiveness of exchange rate controls in Greece during periods of intense downward pressure on the drachma, we study the behaviour of...

This paper analyses the effects of monetary shocks in the determination of exchange rates in economies where banks play a central role in providing finance for domestic investment and in international capital transactions. This is a situation that prevails in many countries, both developed and...

Purpose – This research has been carried out to look into the long run impact of the controls on capital inflows imposed during the years 1998‐2001 in Malaysia. The paper intends to capture the long‐term impact of capital controls in changing the composition of capital flows into Malaysia...

Purpose – The purpose of this paper is to review concepts and measurements related to financial globalization such as financial openness, financial integration, monetary interdependence, and the mobility and movement of capital. Design/methodology/approach – This paper surveys the...

This paper attempts to provide some answers to a number of related questions. Has the European Monetary System reduced (real or nominal, bilateral or effective) exchange rate volatility? If so, has this been at the expense of increased interest rate volatility? How important have capital...