| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6732 |
| DP6732 Together but Apart: ICT and Productivity Growth in Israel | |
| Saul Lach; Manuel Trajtenberg; Gil Shiff | |
| 发表日期 | 2008-03-07 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | 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 rates away from parity conditions. Two capital control variables are constructed in addition to the standard IMF capital control dummy. These variables are used to determine the date of capital account liberalization in a panel of Western European as well as emerging countries. Results show that capital controls do not give governments extra monetary freedom. There is even some evidence that capital controls decrease the level of monetary freedom governments enjoy for a number of countries. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Capital controls Exchange rates Forward premia Interest differentials Monetary freedom |
| URL | https://cepr.org/publications/dp6732 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535570 |
| 推荐引用方式 GB/T 7714 | Saul Lach,Manuel Trajtenberg,Gil Shiff. DP6732 Together but Apart: ICT and Productivity Growth in Israel. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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