Download or read book Exchange and Capital Controls as Barriers to Trade written by Ms.Natalia T. Tamirisa and published by International Monetary Fund. This book was released on 1998-06-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the effect of exchange and capital controls on trade in the gravity-equation framework, in which bilateral exports depend on the distance between countries, the countries’ size and wealth, tariff barriers, and exchange and capital controls. The extent of exchange and capital controls is measured by unique indices. In view of the degree to which countries have liberalized their exchange systems, controls on current payments and transfers are found to be a minor impediment to trade, while capital controls significantly reduce exports into developing and transition economies. Thus, further capital account liberalization could significantly foster trade.

Download or read book Collateral Damage written by Mr.Zhiwei Zhang and published by International Monetary Fund. This book was released on 2007-01-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To minimize evasion of controls, countries often intensify inspections at the border and increase documentation requirements. Thus, the cost of conducting trade rises. The paper finds that a one standard-deviation increase in the controls on trade payment has the same negative effect on trade as an increase in tariff by about 14 percentage points. A one standard-deviation increase in the controls on FX transactions reduces trade by the same amount as a rise in tariff by 11 percentage points. Therefore, the collateral damage in terms of foregone trade is sizable.

Download or read book The Political Economy of Capital Controls written by Gunther G. Schulze and published by Cambridge University Press. This book was released on 2000-05-04 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive study of capital controls, assesses the existing literature and presents original research.

Download or read book Estimated Policy Rules for Capital Controls written by Gurnain Kaur Pasricha and published by International Monetary Fund. This book was released on 2020-06-05 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this question using a novel, weekly dataset on capital control actions in 21 emerging economies from 2001 to 2015. I introduce a new proxy for mercantilist motivations: the weighted appreciation of an emerging-market currency against its top five trade competitors. This proxy Granger causes future net initiations of non-tariff barriers in most countries. Emerging markets systematically respond to both mercantilist and macroprudential motivations. Policymakers respond to trade competitiveness concerns by using both instruments—inflow tightening and outflow easing. They use only inflow tightening in response to macroprudential concerns. Policy is acyclical to foreign debt; however, high levels of this debt reduces countercyclicality to mercantilist concerns. Higher exchange rate pass-through to export prices, and having an inflation targeting regime with non-freely floating exchange rates, increase responsiveness to mercantilist concerns.

Download or read book Capital Controls In Emerging Economies written by Christine P Ries and published by Routledge. This book was released on 2018-02-23 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at situations where a dramatic transformation of the political environment made existing institutions obsolete. It explores the use of capital controls in the reforming economies of the formerly communist countries.

Download or read book Terms of Trade Disturbances Real Exchange Rates and Welfare written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-03-14 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many arguments that have been advanced in favor of maintaining capital controls within the EC have not paid sufficient attention to the welfare consequences of this type of market intervention. Our paper provides a simple, optimizing framework in which the welfare consequences of capital controls can be assessed. Two main issues are considered. First, how do capital controls affect the adjustment of macroeconomic variables to real disturbances? Second, what is the nature of second best arguments for maintaining capital controls given that certain distortions will remain after the European single market is in place in 1992?

Download or read book Capital Controls written by Forrest Capie and published by . This book was released on 2002 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Free capital movements played an important part in the economic integration and globalisation of the nineteenth century. This work analyses historical experience with capital controls, in Britain and elsewhere, and reviews the theory. It concludes that such controls are damaging and that there is no case for reviving them.

Download or read book Capital Controls on the Official Market of a Dual Exchange Rate Regime written by Paul Reding and published by . This book was released on 1991 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Controls Capital Controls and International Financial Markets written by D. Alejandro Hernandez and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effects of restrictions on international financial markets. We analyze a general equilibrium, rational expectations model of a two-country world in which well-functioning international financial markets premit trade in all state-contingent securities except insofar as governments restrict these markets. The restrictions we examine take the form of taxes or quantitative controls on purchases of foreign currency and on the income from foreign assets. State-contingent financial markets allow households to allocate wealth optimally across states so that the imposition of exchange and capital controls has, roughly speaking, only substitution effects but no wealth effect. These restrictions reduce international trade in goods and lower ex-post welfare in the country in which they are imposed. Nominal prices and exchange rate are nonmonotonic functions of these restrictions

Download or read book Capital Control Measures written by Andrés Fernández and published by International Monetary Fund. This book was released on 2015-04-22 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new dataset of capital control restrictions on both inflows and outflows of 10 categories of assets for 100 countries over the period 1995 to 2013. Building on the data in Schindler (2009) and other datasets based on the analysis of the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER), this dataset includes additional asset categories, more countries, and a longer time period. The paper discusses in detail the construction of the dataset and characterizes the data with respect to the prevalence and correlation of controls across asset categories and between controls on inflows and controls on outflows, the aggregation of the separate categories into broader indicators, and the comparison of this dataset with other indicators of capital controls.

Download or read book The Single Market Review written by European Commission and published by . This book was released on 1997 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Invisible Barriers to Invisible Trade written by Brian Griffiths and published by Trade Policy Research Centre. This book was released on 1975 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Deregulation and Trade Expansion written by Suiwah Leung and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of a series of working papers put out by the Research School of Pacific and Asian Studies at the ANU. Reviews the evidence linking exchange rate volatility to trade and presents arguments for not reforming the international monetary system to stabilise exchange rates. Suggests instead that other ways to curb the growth of non-tariff barriers to trade be examined. Includes a list of references.

Download or read book Capital Controls and the Real Exchange Rate written by Sweder van Wijnbergen and published by . This book was released on 1985 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Are capital controls in the foreign exchange market effective written by Stefan Straetmans and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Are Capital Controls in the Foreign Exchange Market Effective written by Stefan Straetmans and published by . This book was released on 2008 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange and Trade Controls written by Józef Świdrowski and published by Gower Publishing Company, Limited. This book was released on 1975 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph describing and analysing the principles and procedures of foreign exchange controls and controls on international trade and capital flow transactions - covers legal aspects, exchange rate systems at the end of 1970 and 1971, export restrictions and export promotion, negative import restrictions, changes in supply and demand functions, price controls, etc. Graphs.