Format:
Online-Ressource (34 p)
Edition:
Online-Ausg.
ISBN:
1484379756
,
9781484379752
Series Statement:
IMF Working Papers Working Paper No. 14/8
Content:
This paper examines the effectiveness of capital outflow restrictions in a sample of 37 emerging market economies during the period 1995-2010, using a panel vector autoregression approach with interaction terms. Specifically, it examines whether a tightening of outflow restrictions helps reduce net capital outflows. We find that such tightening is effective if it is supported by strong macroeconomic fundamentals or good institutions, or if existing restrictions are already fairly comprehensive. When none of these three conditions is fulfilled, a tightening of restrictions fails to reduce net outflows as it provokes a sizeable decline in gross inflows, mainly driven by foreign investors
Additional Edition:
Erscheint auch als Druck-Ausgabe Saborowski, Christian Effectiveness of Capital Outflow Restrictions Washington, D.C. : International Monetary Fund, 2014 ISBN 9781484379752
Language:
English
DOI:
10.5089/9781484379752.001
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