skip to content
Capital controls : gates versus walls Preview this item
ClosePreview this item
Checking...

Capital controls : gates versus walls

Author: Michael W Klein; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2012.
Series: Working paper series (National Bureau of Economic Research), no. 18526.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This paper examines the pattern of controls on capital inflows, and the association of these controls on financial variables, GDP, and exchange rates. A key point of the paper is the distinction between long-standing controls on a broad range of assets (walls) and episodic controls that are imposed and removed, and tend to be on a narrower set of assets (gates). The paper presents a new data set that differentiates  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Michael W Klein; National Bureau of Economic Research.
OCLC Number: 818323335
Notes: Title from http://www.nber.org/papers/18526 viewed November 16, 2012.
"November 2012."
Description: 1 online resource (41 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 18526.
Responsibility: Michael W. Klein.

Abstract:

This paper examines the pattern of controls on capital inflows, and the association of these controls on financial variables, GDP, and exchange rates. A key point of the paper is the distinction between long-standing controls on a broad range of assets (walls) and episodic controls that are imposed and removed, and tend to be on a narrower set of assets (gates). The paper presents a new data set that differentiates between controls on different categories of assets for a set of 44 advanced and emerging market economies over the 1995 to 2010 period. The imposition of episodic controls is found to not follow the prescriptions of theories that suggest first imposing controls on international asset inflows that are most likely to contribute to financial vulnerability. Estimates show significant differences in the partial correlations of long-standing and episodic controls with the growth of financial variables and with GDP growth, but these differences seem to arise because countries with long-standing controls are poorer than the other countries in the sample. With a few exceptions, there is little evidence of the efficacy of capital controls on the growth of financial variables, the real exchange rate, or GDP growth at an annual frequency. These preliminary results raise doubts about assumptions behind recent calls for a greater use of episodic controls on capital inflows.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/818323335> # Capital controls : gates versus walls
    a schema:CreativeWork, schema:MediaObject, schema:Book ;
   library:oclcnum "818323335" ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/1182124208#Place/cambridge_mass> ; # Cambridge, Mass.
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   schema:about <http://experiment.worldcat.org/entity/work/data/1182124208#Topic/international_finance_econometric_models> ; # International finance--Econometric models
   schema:about <http://id.worldcat.org/fast/976950> ; # International finance--Econometric models
   schema:about <http://id.worldcat.org/fast/846376> ; # Capital movements--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/1182124208#Topic/capital_movements_econometric_models> ; # Capital movements--Econometric models
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:copyrightYear "2012" ;
   schema:creator <http://viaf.org/viaf/112403292> ; # Michael W. Klein
   schema:datePublished "2012" ;
   schema:description "This paper examines the pattern of controls on capital inflows, and the association of these controls on financial variables, GDP, and exchange rates. A key point of the paper is the distinction between long-standing controls on a broad range of assets (walls) and episodic controls that are imposed and removed, and tend to be on a narrower set of assets (gates). The paper presents a new data set that differentiates between controls on different categories of assets for a set of 44 advanced and emerging market economies over the 1995 to 2010 period. The imposition of episodic controls is found to not follow the prescriptions of theories that suggest first imposing controls on international asset inflows that are most likely to contribute to financial vulnerability. Estimates show significant differences in the partial correlations of long-standing and episodic controls with the growth of financial variables and with GDP growth, but these differences seem to arise because countries with long-standing controls are poorer than the other countries in the sample. With a few exceptions, there is little evidence of the efficacy of capital controls on the growth of financial variables, the real exchange rate, or GDP growth at an annual frequency. These preliminary results raise doubts about assumptions behind recent calls for a greater use of episodic controls on capital inflows."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/1182124208> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/1182124208#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/1182124208#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:name "Capital controls : gates versus walls"@en ;
   schema:productID "818323335" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/818323335#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2012> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/1182124208#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://papers.nber.org/papers/w18526> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/818323335> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/1182124208#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/1182124208#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/1182124208#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/818323335> ; # Capital controls : gates versus walls
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/1182124208#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/818323335> ; # Capital controls : gates versus walls
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://id.worldcat.org/fast/846376> # Capital movements--Econometric models
    a schema:Intangible ;
   schema:name "Capital movements--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/976950> # International finance--Econometric models
    a schema:Intangible ;
   schema:name "International finance--Econometric models"@en ;
    .

<http://viaf.org/viaf/112403292> # Michael W. Klein
    a schema:Person ;
   schema:birthDate "1958" ;
   schema:familyName "Klein" ;
   schema:givenName "Michael W." ;
   schema:name "Michael W. Klein" ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.