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Who Benefits from Capital Account Liberalization? Evidence from Firm-Level Credit Ratings Data

Prati, Alessandro - 2009

We provide new firm-level evidence on the effects of capital account liberalization. Based on corporate foreign-currency credit ratings data and a novel capital account restrictions index, we find that capital controls can substantially limit access to, and raise the cost of, foreign currency...

Persistent link: https://www.econbiz.de/10012677885

One-Size-Fits-One : Tailor-Made Fiscal Responses to Capital Flows

Zakharova, Daria - 2008

This paper surveys policy responses in recent years to capital inflows in a diverse group of countries that are represented by the Netherlands at the IMF Executive Board. Based on the findings from cross-country empirical literature, the paper distills some guiding principles for policy...

Persistent link: https://www.econbiz.de/10014409078

Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows

Binici, Mahir - 2009

How effective are capital account restrictions? We provide new answers based on a novel panel data set of capital controls, disaggregated by asset class and by inflows/outflows, covering 74 countries during 1995-2005. We find the estimated effects of capital controls to vary markedly across the...

Persistent link: https://www.econbiz.de/10012677882

Macroprudential Policies and Capital Controls Over Financial Cycles

Arakelyan, Maria - 2023

In this paper we assess the effectiveness of macroprudential policies and capital controls in supporting financial stability. We construct a large and granular dataset on prudential and capital flow management measures covering 53 countries during 1996-2016. Conditional on a credit boom, we...

Persistent link: https://www.econbiz.de/10015059217

Crypto as a Marketplace for Capital Flight

Graf von Luckner, Clemens - 2024

This paper shows how cryptocurrency markets can fuel cross-border capital flight by serving as marketplaces that match counterparts with and without (illicit) access to FX. In countries where international transactions are restricted, crypto exchanges effectively allow domestic agents to pay a...

Persistent link: https://www.econbiz.de/10015080289

Quality of Financial Sector Regulation and Supervision Around the World

Cihák, Martin - 2008

The paper analyzes the quality of financial sector regulation and supervision around the globe. Unlike studies that … collect and analyze data on regulation and supervision ""on the books,"" this study also analyzes available information on … supervisory implementation, making use of data from IMF-World Bank assessments of compliance with international standards and …

Persistent link: https://www.econbiz.de/10012677629

Global Contagion of Financial Reforms

Li, Nan - 2024

We construct an extensive database of domestic financial reforms spanning 90 countries from 1973 to 2014. Utilizing this dataset, we estimate a structural model that incorporates various factors identified in the existing literature to explain the global contagion of financial reforms. Our...

Persistent link: https://www.econbiz.de/10015328259

Managing large-scale capital inflows : the case of the Czech Republic, Poland and Romania

Chowdhury, Ibrahim; Keller, Leonor - 2012

Many emerging market economies have in the recent past experienced a surge in capital inflows that may threaten their economic and financial stability. The IMF in early 2011 proposed a framework intended to guide Fund advice to policymakers on how to best respond to such inflows, including both...

Persistent link: https://www.econbiz.de/10009615786

Reserve Requirements, the Maturity Structure of Debt, and Bank Runs

Al-Zein, Eza Ghassan - 2008

The paper looks at the relationship between reserve requirements and the choice of the maturity structure of external debt in a general equilibrium setup, by incorporating the role of international lenders. A date- and maturity-specific reserve requirement is a fraction of the debt to be...

Persistent link: https://www.econbiz.de/10012677572

Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia

Clements, Benedict J. - 2009

This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate dynamics. The results suggest that the controls were successful in reducing external borrowing, but had no statistically significant impact on the volume of non- FDI flows as a...

Persistent link: https://www.econbiz.de/10012677725