Controls on Capital Inflows and the Transmission of External Shocks
In this paper we attempt to analyse whether price-based controls on capital inflows are successful in insulating economies against external shocks. We present results from vector autoregressive (VAR) models, which indicate that Chile and Colombia, countries that adopted controls on capital inflows,...
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okr-10986-55792021-04-23T14:02:22Z Controls on Capital Inflows and the Transmission of External Shocks David, Antonio C. Current Account Adjustment Short-term Capital Movements F320 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 In this paper we attempt to analyse whether price-based controls on capital inflows are successful in insulating economies against external shocks. We present results from vector autoregressive (VAR) models, which indicate that Chile and Colombia, countries that adopted controls on capital inflows, seem to have been relatively well insulated against certain types of external disturbances. Subsequently, we use the autoregressive distributive lag (ARDL) approach to co-integration in order to isolate the effects of the capital controls on the pass-through of external disturbances to domestic interest rates in those economies. We conclude that there is evidence that the capital controls have allowed for greater policy autonomy. 2012-03-30T07:33:31Z 2012-03-30T07:33:31Z 2008 Journal Article Cambridge Journal of Economics 0309166X http://hdl.handle.net/10986/5579 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article |
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World Bank |
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EN |
topic |
Current Account Adjustment Short-term Capital Movements F320 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 |
spellingShingle |
Current Account Adjustment Short-term Capital Movements F320 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 David, Antonio C. Controls on Capital Inflows and the Transmission of External Shocks |
relation |
http://creativecommons.org/licenses/by-nc-nd/3.0/igo |
description |
In this paper we attempt to analyse whether price-based controls on capital inflows are successful in insulating economies against external shocks. We present results from vector autoregressive (VAR) models, which indicate that Chile and Colombia, countries that adopted controls on capital inflows, seem to have been relatively well insulated against certain types of external disturbances. Subsequently, we use the autoregressive distributive lag (ARDL) approach to co-integration in order to isolate the effects of the capital controls on the pass-through of external disturbances to domestic interest rates in those economies. We conclude that there is evidence that the capital controls have allowed for greater policy autonomy. |
format |
Journal Article |
author |
David, Antonio C. |
author_facet |
David, Antonio C. |
author_sort |
David, Antonio C. |
title |
Controls on Capital Inflows and the Transmission of External Shocks |
title_short |
Controls on Capital Inflows and the Transmission of External Shocks |
title_full |
Controls on Capital Inflows and the Transmission of External Shocks |
title_fullStr |
Controls on Capital Inflows and the Transmission of External Shocks |
title_full_unstemmed |
Controls on Capital Inflows and the Transmission of External Shocks |
title_sort |
controls on capital inflows and the transmission of external shocks |
publishDate |
2012 |
url |
http://hdl.handle.net/10986/5579 |
_version_ |
1764395549351477248 |