Are Price-Based Capital Account Regulations Effective In Developing Countries ?
Are Price-Based Capital Account Regulations Effective In Developing Countries ?:

The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-ter...

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Bibliographische Detailangaben
1. Verfasser: David, Antonio C. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2007
Schlagworte:
Asset Price
Balance Sheets
Bank Policy
Banks and Banking Reform
Boom-Bust Cycle
Capital Account
Capital Flows
Capital Inflows
Currencies and Exchange Rates
Debt Markets
Developing Countries
Economic Theory and Research
Emerging Economies
Emerging Markets
Exchange
Finance and Financial Sector Development
Financial Liberal
International Economics & Trade
Macroeconomic Management
Macroeconomics and Economic Growth
Private Sector Development
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Zusammenfassung:The author evaluates the effectiveness of policy measures adopted by Chile and Colombia, aiming to mitigate the deleterious effects of pro-cyclical capital flows. In the case of Chile, according to his Generalized Method of Moments (GMM) analysis, capital controls succeeded in reducing net short-term capital flows but did not affect long-term flows. As far as Colombia is concerned, the regulations were capable of affecting total flows and also long-term ones. In addition, the co-integration models indicate that the regulations did not have a direct effect on the real exchange rate in the Chilean case. Nonetheless, the model used for Colombia did detect a direct impact of the capital controls on the real exchange rate. Therefore, the results do not seem to support the idea that those regulations were easily evaded
Beschreibung:Weitere Ausgabe: David, Antonio C: Are Price-Based Capital Account Regulations Effective In Developing Countries ?
Beschreibung:1 Online-Ressource (1 online resource (27 p.))
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