Arbeitspapier
Capital Controls and Exchange Rate Regimes: An Empirical Investigation
It is often argued that deregulation of international transactions and its effects on the globalization of financial markets is behind the decline in the attractiveness of fixed exchange rate regimes. We argue that, instead, much of the recently observed decrease in the level of capital controls should be seen as endogenous to the exchange rate regime decision. We find that the durability of a peg (measured on the basis of the growth of international reserves), the political benefits of a commitment to a peg, domestic and foreign inflation (aversion), as well as business cycle volatility and synchronization are the main determinants of capital controls. The empirical analysis is based on data for 53 non-OECD countries covering the period 1980-94.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 433
Klassifikation
Wirtschaft
Thema
Monetary policy
exchange rates
capital controls
exchange rates
capital controls
Ereignis
Geistige Schöpfung
(wer)
Berger, Helge
Sturm, Jan-Egbert
de Haan, Jakob
Sturm, Jan-Egbert
de Haan, Jakob
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2001
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Berger, Helge
- Sturm, Jan-Egbert
- de Haan, Jakob
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2001
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