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Revisiting Price-based Controls on Capital Inflows in a “Sophisticated” Emerging Market
- Source :
-
World Development . Aug2007, Vol. 35 Issue 8, p1329-1340. 12p. - Publication Year :
- 2007
-
Abstract
- Summary: Large and volatile capital flows pose serious challenges for macroeconomic management in developing countries. In this paper, we examine the price-based capital controls adopted by Brazil during the 1990s with the objective of facing some of those difficulties. We use data on capital account transactions at a monthly frequency in order to evaluate the effects of those policies on net fixed-income capital flows and on total portfolio flows using GMM techniques. Our results suggest that the controls could have been effective in reducing both types of flows. [Copyright &y& Elsevier]
- Subjects :
- *CAPITAL movements
*MACROECONOMICS
*FIXED-income securities
DEVELOPING countries
Subjects
Details
- Language :
- English
- ISSN :
- 0305750X
- Volume :
- 35
- Issue :
- 8
- Database :
- Academic Search Index
- Journal :
- World Development
- Publication Type :
- Academic Journal
- Accession number :
- 25938242
- Full Text :
- https://doi.org/10.1016/j.worlddev.2007.04.001