We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find...

We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find...

What began to unveil in the beginning of 2018 has become a reality since mid-2019: the global economic slowdown. What is unusual is that it is taking place synchronously, similar to the situation during the financial crisis. How could that happen when the central banks have been trying to...