search query: @author Milesi-Ferretti, G. / total: 3
reference: 2 / 3
| Author: | Grilli, V. Milesi-Ferretti, G. |
| Title: | Economic effects and structural determinants of capital controls |
| Journal: | Staff Papers
1995 : SEP, VOL. 42:3, p. 517-551 |
| Index terms: | CAPITAL ECONOMICS CONTROL |
| Language: | eng |
| Abstract: | The effects and determinants of capital controls are studied using panel data for 61 countries. Capital controls are more likely in countries with lower income, a large government, and a central bank with limited independence. Other determinants of controls include the exchange rate regime, current account imbalances, and the degree of openness of the economy. Capital controls are found to be associated with higher inflation and lower real interest rates. No robust correlation is found between the authors' measures of controls and economic growth, although there is evidence that countries with large market premiums on foreign exchange grow more slowly. |
SCIMA