The interaction between capital controls and exchange rate regimes: evidence from developing countries

Juergen von Hagen () and Jizhong Zhou

International Economic Journal, 2008, vol. 22, issue 2, pages 163-185

Abstract: This paper provides an empirical analysis of the interaction between capital controls and exchange rate policies in developing countries in the 1980s and 1990s. We estimate a simultaneous-equations panel mixed logit model for the joint determination of two decisions. We find strong influences from de jure exchange rate regimes on capital account policies but somewhat weaker feedback impacts. With de facto exchange rate regimes the influences in both directions are similar to each other.

Keywords: capital controls; exchange rate regimes; simultaneous equations model; panel mixed logit model (search for similar items in EconPapers)
Date: 2008

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Related works:
Working Paper: The Interaction Between Capital Controls and Exchange Rate Regimes: Evidence from Developing Countries (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:taf:intecj:v:22:y:2008:i:2:p:163-185

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