The impact of capital Inflow's features on the effectiveness of capital controls - Evidence from multinational data

Jia Liao, Jie Meng, Junfan Ren and Lin Zhang

International Review of Economics & Finance, 2024, vol. 93, issue PB, 273-284

Abstract: This paper explores how features of capital inflow affect the effectiveness of capital controls from three aspects: capital types, inflow intensity, and channels diversity. Empirical results by using multinational data show that capital controls are more effective in an economy with lower degree of capital account openness, when there are more short-term capital inflows and in an intense inflows period. This study is helpful to explain the inconsistency of conclusions about the effectiveness of capital controls in existing studies, and has certain policy implications to curb excessive capital flows for governments.

Keywords: Features of capital inflows; Capital controls; Effectiveness (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:93:y:2024:i:pb:p:273-284

DOI: 10.1016/j.iref.2024.03.072

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