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Why Do Countries Use Capital Controls?
Author:
Ms. Natalia T. Tamirisa
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and
Mr. R. B. Johnston
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Series:
IMF Working Papers
Volume/Issue:
Volume 1998: Issue 181
Language:
English
Publication Date:
01 Dec 1998
DOI:
https://doi.org/10.5089/9781451859164.001
ISBN:
9781451859164
ISSN:
1018-5941
Pages:
37
Keywords:
WP; control; capital market; market
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Recourse to controls on capital flows among developing economies is generally quite pervasive. This paper examines the structure and determinants of capital controls based on a cross-sectional study of developing and transition economies. It identifies categories of capital transactions that can be aggregated for analytical purposes. Controls are found to be related to the balance of payments, macroeconomic management, market and institutional evolution, prudential and other factors. The relationship with the balance of payments, however, is not robust to simultaneous equation analysis.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund