| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19671 |
| 来源ID | Working Paper 19671 |
| Are Capital Controls Prudential? An Empirical Investigation | |
| Andrés Fernández; Alessandro Rebucci; Martín Uribe | |
| 发表日期 | 2013-11-21 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | A growing recent theoretical literature advocates the use of prudential capital control policy, that is, the tightening of restrictions on cross-border capital flows during booms and the relaxation thereof during recessions. We examine the behavior of capital controls in a large number of countries over the period 1995-2011. We find that capital controls are remarkably acyclical. Boom-bust episodes in output, the current account, or the real exchange rate are associated with virtually no movements in capital controls. These results are robust to decomposing boom-bust episodes along a number of dimensions, including the level of development, the level of external indebtedness, or the exchange-rate regime. We also document a near complete acyclicality of capital controls during the Great Contraction of 2007-2009. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; International Finance ; International Macroeconomics ; Globalization and International Relations ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w19671 |
| 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/577346 |
| 推荐引用方式 GB/T 7714 | Andrés Fernández,Alessandro Rebucci,Martín Uribe. Are Capital Controls Prudential? An Empirical Investigation. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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