Effectiveness of Capital Outflow Restrictions

Medientyp: E-Book

Titel: Effectiveness of Capital Outflow Restrictions

Beteiligte: Saborowski, Christian [Verfasser:in]; Saborowski, Christian [Sonstige Person, Familie und Körperschaft]; Weisfeld, Hans [Sonstige Person, Familie und Körperschaft]; Yepez, Juan [Sonstige Person, Familie und Körperschaft]; Sanya, Sarah [Sonstige Person, Familie und Körperschaft]

Erschienen: Washington, D.C: International Monetary Fund, 2014
Online-Ausg.

Umfang: Online-Ressource (34 p)

Sprache: Englisch

DOI: 10.5089/9781484379752.001

ISBN: 1484379756; 9781484379752

Identifikator:

Schlagwörter: Econometrics ; Exports and Imports ; Industries: General ; Globalization: Finance ; International Investment ; Long-term Capital Movements ; Macroeconomics: Production ; Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; International economics ; Econometrics & economic statistics ; Capital flows ; Capital outflows ; Industrial production ; Capital controls ; Vector autoregression ; Balance of payments ; Production ; Econometric analysis ; Capital movements ; Industries ; Malaysia

Art der Reproduktion: Online-Ausg.

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Beschreibung: 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

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