How Effective are Capital Controls in Asia?

This study examines the effects of capital account restrictions on capital flows in nine Asian economies over the period 1995–2005 using panel regressions with fixed effects. The results show that capital controls significantly affect capital flows when such flows are disaggregated by asset type and direction of flow. Tests for the presence of possible asymmetric effects, substitution effects, and endogeneity of capital controls are conducted.

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Year of publication:	2011-08-17
Authors:	Gochoco-Bautista,, Maria Socorro ; Jongwanich, Juthathip ; Lee, Jong-Wha
Institutions:	Economics and Research Department, Asian Development Bank
Subject:	capital flows \| capital controls \| financial integration

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Series:	ADB Economics Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series ADB Economics Working Paper Series Number 224 37 pages
Classification:	F21 - International Investment; Long-Term Capital Movements ; F32 - Current Account Adjustment; Short-Term Capital Movements ; F36 - Financial Aspects of Economic Integration ; F41 - Open Economy Macroeconomics ; G15 - International Financial Markets ; O53 - Asia including Middle East
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009245399