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Book/Printed Material Capital controls mud in the wheels of market discipline

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Title

  • Capital controls mud in the wheels of market discipline

Summary

  • "Widespread support for capital account liberalization in emerging markets has recently shifted to skepticism and even support for capital controls in certain circumstances. This sea-change in attitudes has been bolstered by the inconclusive macroeconomic evidence on the benefits of capital account liberalization. There are several compelling reasons why it is difficult to measure the aggregate impact of capital controls in very different countries. Instead, a new and more promising approach is more detailed microeconomic studies of how capital controls have generated specific distortions in individual countries. Several recent papers have used this approach and examined very different aspects of capital controls from their impact on crony capitalism in Malaysia and on financing constraints in Chile, to their impact on US multinational behavior and the efficiency of stock market pricing. Each of these diverse studies finds a consistent result: capital controls have significant economic costs and lead to a misallocation of resources. This new microeconomic evidence suggests that capital controls are not just sand', but rather mud in the wheels' of market discipline"--National Bureau of Economic Research web site.

Names

  • Forbes, Kristin
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2004.

Headings

  • -  Capital movements--Law and legislation
  • -  Foreign exchange rates--Law and legislation
  • -  Foreign exchange rates

Notes

  • -  Title from PDF file as viewed on 1/25/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005616219

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Forbes, Kristin, and National Bureau Of Economic Research. Capital Controls Mud in the Wheels of Market Discipline. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. https://aj.sunback.homes/item/2005616219/.

APA citation style:

Forbes, K. & National Bureau Of Economic Research. (2004) Capital Controls Mud in the Wheels of Market Discipline. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005616219/.

MLA citation style:

Forbes, Kristin, and National Bureau Of Economic Research. Capital Controls Mud in the Wheels of Market Discipline. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005616219/>.