Front Matter Page
Strategy, Policy, and Review Department
Contents
I. Introduction
II. Data and Empirical Approach
III. Estimation Results
IV. Robustness
V. Conclusion
References
Tables
1. Country Sample
2. Definitions and Sources of Variables
3. Summary Statistics of Selected Variables, 1995–2010
4. Outflow Restrictions (Schindler), 1995 and 2010
5. Selected Characteristics of Countries that use Outflow Controls
Figures
1. Number of Emerging Market Countries Tightening Capital Outflow Restrictions, 1996–2010
2. Impulse Responses to an Unexpected Increase in the Outflow Controls Index
3a. Impulse Responses by Macroeconomic Fundamentals
3b. Impulse Responses by Macroeconomic Fundamentals: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net Inflows
4a. Impulse Responses by Government Effectiveness
4b. Impulse Responses by Government Effectiveness: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net Inflows
5a. Impulse Responses by Intensity of Capital Outflow Restrictions
5b. Impulse Responses by Capital Control Intensity: Including Flows in Net Assets and Net Liabilities as well as Gross Inflows and Gross Outflows Instead of Net Inflows
6a Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for Good Macroeconomic Fundamentals
6b Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for High Government Effectiveness
6c. Robustness: Net Inflows Response to an Unexpected Increase in the Outflow Controls Index for High Capital Control Intensity
Boxes
1. Selected Country Experiences with Outflow Restrictions