Are price-based capital account regulations effective in developing countries? /

Are price-based capital account regulations effective in developing countries? /

Saved in:
Bibliographic Details
Author / Creator:David, Antonio C.
Imprint:Washington, D.C. : World Bank, Young Professionals Program, 2007.
Description:27 p. ; 28 cm.
Language:English
Series:Policy research working paper ; 4175
Policy research working papers ; 4175.
Subject:
Capital movements -- Chile -- Econometric models.
Capital movements -- Colombia -- Econometric models.
Capital movements -- Econometric models.
Economic policy -- Econometric models.
Chile -- Economic policy -- Econometric models.
Colombia -- Economic policy -- Econometric models.
Chile.
Colombia.
Format: E-Resource Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/6286696
Hidden Bibliographic Details
Other authors / contributors:World Bank. Young Professionals Program.
Notes:"March 2007"--Cover.
Includes bibliographical references (p. 18-19).
Also available on the World Wide Web.
Summary:The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded.

Similar Items

Similar Items