| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5727 |
| 来源ID | Working Paper 5727 |
| When Liberal Policies Reflect External Shocks, What Do We Learn? | |
| Leonardo Bartolini; Allan Drazen | |
| 发表日期 | 1996-08-01 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | We present a model where policies of free capital mobility can signal governments' future policies, but the informativeness of the signal depends on the path of world interest rates. Capital flows to emerging markets reflect investors' perception of these markets' political risk. With low world interest rates, emerging markets experience a capital inflow and engage in a widespread policy of free capital mobility; with higher rates, only sufficiently committed countries allow free capital mobility, whereas others impose controls to trap capital onshore, thus signaling future policies affecting capital mobility. These predictions are consistent with the recent experience of capital flows and policies affecting capital mobility in developing countries. |
| 主题 | International Economics ; International Factor Mobility ; Microeconomics ; Game Theory |
| URL | https://www.nber.org/papers/w5727 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563211 |
| 推荐引用方式 GB/T 7714 | Leonardo Bartolini,Allan Drazen. When Liberal Policies Reflect External Shocks, What Do We Learn?. 1996. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5727.pdf（1532KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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