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The Debate on Capital Controls: Academic Research

 

Liberalizing Capital Movements: Some Analytical Issues by Barry Eichengreen, Michael Mussa, Giovanni Dell'Ariccia, Enrica Detragiache, Gian Maria Milesi-Ferretti, Andrew Tweedie (IMF 2/99)

Sequencing Capital Account Liberalizations and Financial Sector Reform by Barry Johnston (IMF 8/98)

Proposals Regarding Restrictions on Capital Flows by Jeffrey Frankel (6/98)

A Review of Capital Account Restrictions in Chile in the 1990s  by Francisco Nadal-De Simone and Piritta Sorsa (IMF 4/99)

Capital Controls and Trade Liberalization in a Monetary Economy by Byung Jang (IMF 3/99)

Developing Countries and the Globalization of Financial Markets by Malcolm Knight IMF Working Paper (8/98)

The Benefits and Risks Associated with the Wider Integration of International Financial Markets by Shigemitsu Sugisaki, IMF (12/98)

Understanding Financial Crises: A Developing Country Perspective by  Frederic S. Mishkin; NBER Working Paper No. 5600

"The Global Capital Market: Benefactor or Menace?" by Maurice Obstfeld NBER Working Paper No. 6559, May, 1998

Temporary Capital Controls by Carmen Reinhart and Todd Smith

Country Risk and Capital Flow Reversals Razin, A. & E. Sadka 2001

Financial Liberalization and Capital Flow Reversals Eicher, T.S., U. Walz & S. Turnovsky 2001

The swings in capital flows and the Brazilian crisis Goldfajn, I. 2001

Capital Controls and Exchange Rate Instability in Developing Economies Glick, R. & M. Hutchison 2001

Short and Long-Run Integration: Do Capital Controls Matter? Kaminsky, G. & S. Schmukler 2001

Sudden Stops and the Mexican Wave: Currency Crises, Capital Flow Reversals and Output Loss in Emerging Markets Hutchison, M. & I. Noy 2002

The Developed World's Demographic Transition - The Roles of Capital Flows, Immigration, and Policy by H. Fehr, S. Jokisch, and L. Kotlikoff NBER Nov 2003 (.pdf)

Does the Source of Capital Affect Capital Structure? by M. Faulkender and M. Petersen NBER Aug 2003 (.pdf)

Do Capital Flows Respond to Risk and Return? by C. Calderón, L. Servén, and N. Loayza World Bank Jun 2003 (.pdf)

Catalyzing Capital Flows: Do IMF-Supported Programs Work as Commitment Devices? by A. Mody, D. Saravia IMF May 2003 (.pdf)

Capital Flows, Country Risk and Contagion by Norbert Fiess World Bank Dec 2002 (.pdf)

Exchange Rate, Equity Prices and Capital Flows by H. Hau and H. Rey NBER Dec 2002

Gains from FDI Inflows with Incomplete Information by A. Razin and E. Sadka Jun 2002

World Bank Research: Global Capital Flows and Financing Constraints by A. Harrison, I. Love and M. McMillan February 15, 2002

Federal Reserve: Determinants and Repercussions of the Composition of Capital Inflows by M. Carlson and L. Hernandez January 2002

NBER: Interest Rates, Contagion and Capital Controls. Sebastian Edwards. Working Paper, July 2000.

IMF: Capital Flows and Their Macroeconomic Effects in India by R. Kohli November 1, 2001

IMF: Exchange Rates and Capital Flows by R. Brooks, H. Edison, M. Kumar and T. Slok November 1, 2001

IMF: A Simple Measure of the Intensity of Capital Controls by H. Edison and F. Warnock November 1, 2001

IMF: The Effects of Capital Controls on Exchange Rate Volatility and Output by M. Frenkel, C. Nickel, G. Schmidt and G. Stadtmann October 1, 2001

NBER: Aging and International Capital Flows by A. Boersch-Supan, A. Ludwig, and J. Winter October 2001

NBER: Exchange Rate Regimes, Capital Flows and Crisis Prevention by S. Edwards October 2001

Bubbles and Capital Flows by J. Vemtura NBER Nov 11, 2002

Cronyism and Capital Controls: Evidence from Malaysia by S. Johnson and T. Mitton October 2001

Short and Long-Run Integration: Do Capital Controls Matter? by G. Kaminsky and S. Schmukler August 2001 (PDF)

Liberalizing Capital Movements: Some Analytical Issues by Barry Eichengreen, Michael Mussa, Giovanni Dell'Ariccia, Enrica Detragiache, Gian Maria Milesi-Ferretti, Andrew Tweedie (IMF 2/99)

Sequencing Capital Account Liberalizations and Financial Sector Reform by Barry Johnston (IMF 8/98)

Proposals Regarding Restrictions on Capital Flows by Jeffrey Frankel (6/98)

A Review of Capital Account Restrictions in Chile in the 1990s  by Francisco Nadal-De Simone and Piritta Sorsa (IMF 4/99)

Capital Controls and Trade Liberalization in a Monetary Economy by Byung Jang (IMF 3/99)

Developing Countries and the Globalization of Financial Markets by Malcolm Knight IMF Working Paper (8/98)

The Benefits and Risks Associated with the Wider Integration of International Financial Markets by Shigemitsu Sugisaki, IMF (12/98)

Understanding Financial Crises: A Developing Country Perspective by  Frederic S. Mishkin; NBER Working Paper No. 5600

"The Global Capital Market: Benefactor or Menace?" by Maurice Obstfeld NBER Working Paper No. 6559, May, 1998

Temporary Capital Controls by Carmen Reinhart and Todd Smith

Too Much of a Good Thing: The Macroeconomic Effects of Taxing Capital Inflows by Carmen Reinhart and Todd Smith

Regulatory Challenges for Source Countries of Surges in Capital Flows by Stephany Griffith-Jones

Chapter 1 (Systemic Risk and financial crises) of Stephany Griffith-Jones book "Global Capital Flows -Should they be regulated?"

Public Event: United Nations Development Programme panel on "Perspectives on International Financial Liberalization (4/14/98)

Sequencing Capital Account Liberalization - Lessons from the Experiences in Chile, Indonesia, Korea, and Thailand by Johnston, R Barry, Darbar, Salim M and Echeverria, Claudia; IMF Working Paper

Financial Fragility and Economic Performance in Developing Economies - Do Capital Controls, Prudential Regulation and Supervision Matter? by Rossi, Marco; Monetary and Exchange Affairs Department, June 1999

FINANCIAL MARKET INTEGRATION AND EXCHANGE RATE POLICY by Mathieson, Donald J; Rojas-Suarez, Liliana; Research Department, 1990

AN ECONOMETRIC RATIONAL EXPECTATIONS MACROECONOMIC MODEL FOR DEVELOPING COUNTRIES WITH CAPITAL CONTROLS by Haque, Nadeem Ul; Lahiri, Kajal; Montiel, Peter; Research Department, 1990

STABILIZATION POLICIES IN DEVELOPING COUNTRIES WITH A PARALLEL MARKET FOR FOREIGN EXCHANGE: A FORMAL FRAMEWORK by Agenor, Pierre-Richard; African Department, 1990

CAPITAL CONTROLS AND INTERNATIONAL PORTFOLIO THEORY: A MICROECONOMIC APPROACH by Rose, Marjorie B; Central Banking Department, 1990

EXCHANGE RESTRICTIONS AND DEVALUATION CRISES by Agenor, Pierre-Richard; Research Department, 1990

THE MACROECONOMIC EFFECTS OF CAPITAL CONTROLS AND THE STABILIZATION OF THE BALANCE OF TRADE by Mendoza, Enrique G; Research Department, 1990

FINANCIAL MARKET VOLATILITY AND THE IMPLICATIONS FOR MARKET REGULATION: A SURVEY by Scott, Louis; Research Department, 1990

Capital Mobility in Developing Countries - Some Empirical Tests by Haque, Nadeem Ul; Montiel, Peter; Research Department, 1990

Why Do Countries Use Capital Controls?  by Barry Johnston and Natalia Tamirisa IMF Working Paper WP/98/181 (1/99)

Developing Countries and the Globalization of Financial Markets by Malcolm Knight IMF Working Paper (8/98)

Offshore Banking-An Analysis of Micro- and Macro-Prudential Issues by Luca Errico IMF Working Paper WP/99/5 (2/99)

The Real Impact of Financial Shocks: Evidence from the Republic of Korea by Ilker Domaç and Giovanni Ferri, World Bank (11/98)

Sequencing Capital Account Liberalizations and Financial Sector Reform by Barry Johnston (IMF 8/98)

Capital Flows, Real Exchange Rates, and Capital Controls: Some Latin American Examples by Sebastian Edwards NBER WP #6800 (11/98)

Interest Rate Volatility, Capital Controls, and Contagion by Sebastian Edwards NBER Working Paper No. 6756 (10/98)

Sequencing Capital Account Liberalization - Lessons from the Experiences in Chile, Indonesia, Korea, and Thailand by Johnston, R Barry, Darbar, Salim M and Echeverria, Claudia; IMF Working Paper

Capital Account Liberalization in the Southern Mediterranean Region by Saleh Nsouli and Mounir Rached (IMF 10/98)

Restraints on Capital Flows: What Are They? by Ramkishen S. Rajan (9/98)