A QUANTITATIVE ANALYSIS OF THE EFFECTS OF CAPITAL CONTROLS: SPAIN, 1986-1990

Oscar Bajo-Rubio () and Simon Sosvilla-Rivero

No 00-01, Working Papers from Asociación Española de Economía y Finanzas Internacionales

Abstract: This paper offers a quantitative assessment of the effectiveness of capital controls in Spain during the period 1986-1990. The analysis is based on a portfoliobalance model previously estimated for the Spanish economy, where the complete elimination of capital controls is simulated. Our results suggest that capital controls would have avoided a net capital outflow amounting to nearly a 4 per cent increase in the Spanish net foreign asset position, as a quarterly average, during the first five years of Spain’s membership into the EU.

JEL-codes: C32 F21 F36 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2000-07
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http://www.aeefi.com/RePEc/pdf/defi00-01.pdf (application/pdf)

Related works:
Journal Article: A Quantitative Analysis of the Effects of Capital Controls: Spain, 1986-1990 (2001)
Working Paper: A Quantitative Analysis of the Effects of Capital Controls: Spain, 1986-1990
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Persistent link: https://EconPapers.repec.org/RePEc:aee:wpaper:0001

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