Effectiveness of capital controls in selected emerging markets in the 2000s /

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Bibliographic Details
Author / Creator:Baba, Chikako, author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2011.
Description:1 online resource (45 pages)
Language:English
Series:IMF working paper ; WP/11/281
IMF working paper ; WP/11/281.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12499814
Hidden Bibliographic Details
Other authors / contributors:Kokenyne, Annamaria, author.
International Monetary Fund. Monetary and Capital Markets Department, issuing body.
ISBN:146398765X
9781463987657
9781463926625
1463926626
Notes:At head of title: Monetary and Capital Markets Department.
Title from PDF title page (IMF Web site, viewed December 6, 2011).
"December 2011."
Includes bibliographical references.
English.
Summary:This paper estimates the effectiveness of capital controls in response to inflow surges in Brazil, Colombia, Korea, and Thailand in the 2000s. Controls are generally associated with a decrease in inflows and a lengthening of maturities, but the relationship is not statistically significant in all cases, and the effects are temporary. Controls are more successful in providing room for monetary policy than dampening currency appreciation pressures. We argue that the macroeconomic impact of capital controls depends on the extensiveness of the policy, the level of capital market development, the support provided by other policies, and the persistence of capital flows.

MARC

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300 |a 1 online resource (45 pages) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper ;  |v WP/11/281 
500 |a At head of title: Monetary and Capital Markets Department. 
500 |a Title from PDF title page (IMF Web site, viewed December 6, 2011). 
500 |a "December 2011." 
520 |a This paper estimates the effectiveness of capital controls in response to inflow surges in Brazil, Colombia, Korea, and Thailand in the 2000s. Controls are generally associated with a decrease in inflows and a lengthening of maturities, but the relationship is not statistically significant in all cases, and the effects are temporary. Controls are more successful in providing room for monetary policy than dampening currency appreciation pressures. We argue that the macroeconomic impact of capital controls depends on the extensiveness of the policy, the level of capital market development, the support provided by other policies, and the persistence of capital flows. 
504 |a Includes bibliographical references. 
505 0 |a Cover; Contents; I. Introduction; II. Capital Controls in Emerging Markets during the 2000s; A. Brazil; B. Colombia; C. Thailand; D. Korea; III. Measuring the Intensity of Capital Controls; IV. Determinants of Capital Flows; A. Data; B. Results for the Pull and Push Factors; V. Vector Autoregressive Analysis on the Effectiveness of Controls; A. Estimation Setup; B. Results by Country; VI. Discussion and Conclusions; Tables; 1. Private Capital Flows, 2000: Q1 to 2008: Q2; 2. Effectiveness of Capital Control Policies in Selected Emerging Economies in the 2000s. 
505 8 |a 3. Regressions Explaining the Volume of Capital Flows, Brazil4. Regressions Explaining the Volume of Capital Flows, Colombia; 5. Regressions Explaining the Volume of Capital Flows, Thailand; 6. Regressions Explaining the Volume of Capital Flows, Korea; Figures; 1. Private Capital Flow; 2. Evolution of Capital Controls; 3. Responses to the Tax in Brazil; 4. Responses to the Tax in Brazil, Composition of the Flows; 5. Responses to the Unremunerated Reserve Requirement in Colombia; 6. Responses to the Unremunerated Reserve Requirement in Colombia, Six Months after its Introduction. 
505 8 |a 7. Responses to the Unremunerated Reserve Requirement in Colombia, Six Month after its Introduction, Composition of the Flows8. Responses to the Unremunerated Reserve Requirement in Thailand; 9. Responses to the Unremunerated Reserve Requirement in Thailand, Composition of the Flows; 10. Responses to Other Inflow Controls in Thailand; 11. Responses to the Outflow Controls in Korea; 12. Responses to the Outflow Controls in Korea, Composition of the Flows; Appendices; I. Series Definition, Source, and Coverage; II. Summary of Stationarity Test; III. Selected Capital Account Management Measures. 
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650 0 |a Capital market  |x Econometric models. 
650 6 |a Mouvements de capitaux  |x Modèles économétriques. 
650 6 |a Marché financier  |x Modèles économétriques. 
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650 7 |a Capital movements  |x Econometric models.  |2 fast  |0 (OCoLC)fst00846376 
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