Effectiveness of capital outflow restrictions /

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Bibliographic Details
Imprint:[Washington, D.C.] : International Monetary Fund, ©2014.
Description:1 online resource (34 pages)
Language:English
Series:IMF working paper ; WP/14/8
IMF working paper ; WP/14/8.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12502461
Hidden Bibliographic Details
Other authors / contributors:Saborowski, Christian, author.
International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
ISBN:9781484379752
1484379756
9781484379776
1484379772
Notes:At head of title: Strategy, Policy, and Review Department.
"January 2014."
Includes bibliographical references.
Online resource; title from pdf title page (IMF.org Web site, viewed Jan. 30, 2014).
Summary:"This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce net capital outflows. We find that such tightening is effective if it is supported by strong macroeconomic fundamentals or good institutions, or if existing restrictions are already fairly comprehensive. When none of these three conditions is fulfilled, a tightening of restrictions fails to reduce net outflows as it provokes a sizable decline in gross inflows, mainly driven by foreign investors"--Abstract.

MARC

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504 |a Includes bibliographical references. 
520 |a "This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce net capital outflows. We find that such tightening is effective if it is supported by strong macroeconomic fundamentals or good institutions, or if existing restrictions are already fairly comprehensive. When none of these three conditions is fulfilled, a tightening of restrictions fails to reduce net outflows as it provokes a sizable decline in gross inflows, mainly driven by foreign investors"--Abstract. 
588 0 |a Online resource; title from pdf title page (IMF.org Web site, viewed Jan. 30, 2014). 
505 0 |a Cover; Contents; I. Introduction; Boxes; 1. Selected Country Experiences with Outflow Restrictions; II. Data and Empirical Approach; Tables; 1. Country Sample; 2. Definitions and Sources of Variables; 3. Summary Statistics of Selected Variables, 1995-2010; 4. Outflow Restrictions (Schindler), 1995 and 2010; 5. Selected Characteristics of Countries that use Outflow Controls; Figures; 1. Number of Emerging Market Countries Tightening Capital Outflow Restrictions, 1996-2010; III. Estimation Results; 2. Impulse Responses to an Unexpected Increase in the Outflow Controls Index. 
505 8 |a 3a. Impulse Responses by Macroeconomic Fundamentals3b. Impulse Responses by Macroeconomic Fundamentals: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net Inflows; 4a. Impulse Responses by Government Effectiveness; 4b. Impulse Responses by Government Effectiveness: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net Inflows; 5a. Impulse Responses by Intensity of Capital Outflow Restrictions. 
505 8 |a 5b. Impulse Responses by Capital Control Intensity: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net InflowsIV. Robustness; 6a Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for Good Macroeconomic Fundamentals; 6b Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for High Government Effectiveness; 6c. Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for High Capital Control Intensity; V. Conclusion; References. 
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