Economic Effects and Structural Determinants of Capital Controls
Vittorio Grilli and
Gian Maria Milesi-Ferretti ()
IMF Staff Papers, 1995, vol. 42, issue 3, 517-551
Abstract:
The effects and determinants of capital controls are studied using panel data for 61 countries. Capital controls are more likely in countries with lower income, a large government, and a central bank with limited independence. Other determinants of controls include the exchange rate regime, current account imbalances, and the degree of openness of the economy. Capital controls are found to be associated with higher inflation and lower real interest rates. No robust correlation is found between our measures of controls and economic growth, although there is evidence that countries with large black market premiums on foreign exchange grow more slowly.
Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (279)
Downloads: (external link)
http://www.palgrave-journals.com/imfsp/journal/v42/n3/pdf/imfsp199524a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/imfsp/journal/v42/n3/full/imfsp199524a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.
Related works:
Working Paper: Economic Effects and Structural Determinants of Capital Controls (1995) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:imfstp:v:42:y:1995:i:3:p:517-551
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41308/PS2
Access Statistics for this article
More articles in IMF Staff Papers from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().