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Controls On Capital Inflows and External Shocks / David, Antonio C.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- David, Antonio C.
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Bank Policy.
- Capital Account.
- Capital Flows.
- Capital Inflows.
- Credit Expansion.
- Currencies and Exchange Rates.
- Debt Markets.
- Developing Countries.
- Domestic Interest Rates.
- Economic Stabilization.
- Economic Theory and Research.
- Emerging Markets.
- Exchange.
- Finance and Financial Sector Development.
- Financial Literacy.
- Financial Shocks.
- Interest.
- International Financial Markets.
- Liquidity.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Market.
- Market Failures.
- Moral Hazard.
- Private Sector Development.
- Real Exchange Rate.
- Reserve.
- Reserve Requirement.
- Reserve Requirements.
- Taxes.
- Local Subjects:
- Bank Policy.
- Capital Account.
- Capital Flows.
- Capital Inflows.
- Credit Expansion.
- Currencies and Exchange Rates.
- Debt Markets.
- Developing Countries.
- Domestic Interest Rates.
- Economic Stabilization.
- Economic Theory and Research.
- Emerging Markets.
- Exchange.
- Finance and Financial Sector Development.
- Financial Literacy.
- Financial Shocks.
- Interest.
- International Financial Markets.
- Liquidity.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Market.
- Market Failures.
- Moral Hazard.
- Private Sector Development.
- Real Exchange Rate.
- Reserve.
- Reserve Requirement.
- Reserve Requirements.
- Taxes.
- Physical Description:
- 1 online resource (26 pages)
- Place of Publication:
- Washington, D.C., The World Bank, 2007
- System Details:
- data file
- Summary:
- The author attempts to analyze whether price-based controls on capital inflows are successful in insulating economies against external shocks. He presents results from vector auto regressive (VAR) models that indicate that Chile and Colombia, countries that adopted controls on capital inflows, seem to have been relatively well insulated against external disturbances. Subsequently, he uses the auto regressive distributed lag (ARDL) approach to co-integration to isolate the effects of the capital controls on the pass-through of external disturbances to domestic interest rates in those economies. The author concludes that there is evidence that the capital controls allowed for greater policy autonomy.
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