All That’s Old is New Again: Capital Controls and the Macroeconomic Determinants of Entrepreneurship in Emerging Markets

Christopher Hartwell

MPRA Paper from University Library of Munich, Germany

Abstract: While a growing amount of economic evidence has emerged that capital controls as a tool may both be ineffective for many of their stated purposes, there has been little examination of their long-term effects that can harm rather than help entrepreneurship in emerging markets. The purpose of this paper is to fill this gap and examine capital controls in both a historical and recent context, ascertaining their possible effect on firms and entrepreneurship in emerging markets in coming years. What will the impact be on emerging markets and firms in developing countries if capital controls continue to gain credibility? How has the rebirth of controls in the wake of the global financial crisis affected entrepreneurship in emerging markets?

Keywords: capital controls; emerging markets (search for similar items in EconPapers)
JEL-codes: E62 F32 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:40257

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