Controls on capital inflows have been experiencing a renaissance since 2008, with several prominent emerging markets implementing them in recent years. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the synthetic control method, we construct...

Controls on capital inflows have been experiencing a renaissance since 2008, with several prominent emerging markets implementing them. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the synthetic control method, we construct counterfactuals...

Controls on capital inflows have been experiencing a renaissance since 2008, with several prominent emerging markets implementing them. We focus on Brazil, which instituted five changes in its capital account regime in 2008-2011. Using the synthetic control method, we construct counterfactuals...

Using donor-recipient data from 1973 to 2013, we find that reducing foreign aid as a fraction of the recipient’s GDP by 10% improves the bilateral political relation by 2% in the long run. Such a negative relationship is robust for aid with different purposes, for sample averaged over 3 to 5...

How do governments finance their unprecedented fiscal stimuli and policy actions to combat the COVID-19 pandemic? Comparing sovereign bond issuances before and after the outbreak of COVID-19, we find that governments borrow more from bond markets in response to greater pandemic shocks. This is...