Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows / / Mahir Binici, Michael Hutchison, Martin Schindler

• Autore: Binici Mahir
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Edizione: 1st ed.
• Descrizione fisica: 32 p. : ill
• Disciplina: 332.4;332.45
• Soggetto topico: Capital movements - Government policy; International business enterprises; Exports and Imports; Investments: Stocks; International Investment; Long-term Capital Movements; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors; International economics; Investment & securities; Capital controls; Capital flows; Capital inflows; Capital outflows; Stocks; Capital movements
• Soggetto geografico: Colombia
• Altri autori: HutchisonMichael SchindlerMartin
• Note generali: "September 2009."
• Nota di contenuto: Intro -- Table of Contents -- I. Introduction -- II. Literature Review -- A. Individual Country Studies -- B. Multi-Country Studies -- III. Data and Methodology -- A. The Basic Framework -- B. Control Variables: Determinants of Capital Flows -- IV. Results -- A. Reference Results -- B. Asset Categories -- C. Inflows versus Outflows -- D. Composition of Capital Flows -- V. Extensions -- VI. Conclusion -- Tables -- 1. Descriptive Statistics -- 2. Aggregate Capital Flows and Controls -- 3. Disaggregated Capital Flows and Controls -- 4. Disaggregated Capital Flows and Controls: Composition Effects -- 5. Disaggregated Capital Flows and Simultaneous Inflow and Outflow Controls -- 6. Disaggregated Capital Flows, Controls and Country Groups -- 7. Disaggregated Capital Flows and Contemporaneous and Lagged -- Figures -- 1. International Financial Integration, 1970-2006 -- 2. The Composition of Capital Controls (sample average) -- 3. The Composition of Capital Controls (country level) -- Appendix Tables -- A1. List of Countries in the Data set -- A2. Data Description and Sources -- A3. Disaggregated Capital Flows and Controls -- A4. Disaggregated Capital Flows and Controls: Country and Time FE -- References.
• Sommario/riassunto: 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 types of capital controls, both by asset categories, by the direction of flows, and across countries' income levels. In particular, both debt and equity controls can substantially reduce outflows, with little effect on capital inflows, but only high-income countries appear able to effectively impose debt (outflow) controls. The results imply that capital controls can affect both the volume and the composition of capital flows.
• Titolo autorizzato: Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows
• ISBN: 1-4623-9208-3; 1-4527-3290-6; 1-282-84414-8; 1-4518-7355-7; 9786612844140
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910827473603321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/208