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Capital Controls: A Meta-analysis Approach

Author

Listed:
  • Magud, Nicolas
  • Reinhart, Carmen
  • Rogoff, Kenneth
Abstract
In this note we summarize our recent paper, where we delved into the details of this apple-to-oranges problem with the aim of defining a minimum common ground. We begin our analysis by explicitly documenting the kinds of measures that are construed as capital controls. Along the way, we describe the more drastic differences across countries/episodes and between controls on inflows and outflows as well a more subtle differences in types of inflow or outflow controls. Given that success is measured differently across studies, we standardize (to some degree) the results across studies. Inasmuch as possible, we highlight episodes that are less well known than the heavily analyzed cases of Chile and Malaysia. Our results are based on a meta-analysis of 37 empirical studies.

Suggested Citation

  • Magud, Nicolas & Reinhart, Carmen & Rogoff, Kenneth, 2011. "Capital Controls: A Meta-analysis Approach," MPRA Paper 30274, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:30274
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    capital controls; capital inflows; exchange rate; monetary policy;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F30 - International Economics - - International Finance - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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