| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20220 |
| 来源ID | Working Paper 20220 |
| Capital Controls and Recovery from the Financial Crisis of the 1930s | |
| Kris James Mitchener; Kirsten Wandschneider | |
| 发表日期 | 2014-06-12 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find evidence that they stemmed gold outflows in the year following their imposition; however, time-shifted, difference-in- differences (DD) estimates of industrial production, prices, and exports suggest that exchange controls did not accelerate macroeconomic recovery relative to countries that went off gold and floated. Countries imposing capital controls also appear to perform similar to the gold bloc countries once the latter group of countries finally abandoned gold. Time series analysis suggests that countries imposing capital controls refrained from fully utilizing their newly acquired monetary policy autonomy. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; International Finance ; International Macroeconomics ; Financial Economics ; Financial Markets ; History ; Macroeconomic History ; Financial History |
| URL | https://www.nber.org/papers/w20220 |
| 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/577893 |
| 推荐引用方式 GB/T 7714 | Kris James Mitchener,Kirsten Wandschneider. Capital Controls and Recovery from the Financial Crisis of the 1930s. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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