The Effectiveness of Capital Controls - The Case of Slovenia

Similar to Chile in the 1990s, Slovenia has introduced an unremunerated reserve requirement (URR) on financial credits in 1995. We find that the URR has not been effective in reducing overall inflows of foreign capital. Hence, the gain in monetary autonomy has been limited. While the overall structure of capital inflows has not differed decidedly from that of other transition economies, Slovenia has raised less short-term bank credit from abroad. Moreover, there are indications that the volatility of exchange rates has declined after the imposition of the URR while the volatility of capital flows has increased.

MoreLess

Year of publication:	1999
Authors:	Buch, Claudia M. ; Hanschel, Elke
Publisher:	Kiel : Kiel Institute of World Economics (IfW)
Subject:	Kapitalverkehrspolitik \| Kapitalimport \| Wirtschaftspolitische Wirkungsanalyse \| Internationale Kapitalmobilität \| Wechselkurs \| Volatilität \| Internationaler Preiszusammenhang \| Slowenien \| Slovenia \| capital controls

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Kiel Working Paper ; 933
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	859795691 [GVK] hdl:10419/17793 [Handle] RePEc:zbw:ifwkwp:933 [RePEc]
Classification:	F21 - International Investment; Long-Term Capital Movements ; F32 - Current Account Adjustment; Short-Term Capital Movements ; F36 - Financial Aspects of Economic Integration
Source:	EconStor

Persistent link: https://www.econbiz.de/10010260523