How Effective are Capital Controls in Asia?
Maria Socorro Gochoco-Bautista
Asian Development Bank
Australian National University (ANU) - Research School of Pacific and Asian Studies (RSPAS)
Korea University; National Bureau of Economic Research (NBER); Asian Development Bank - Office of the Chief Economist
Asian Development Bank Economics Working Paper Series No. 224
This study examines the effects of capital account restrictions on capital flows in nine Asian economies over the period 1995-2005 using panel regressions with fixed effects. The results show that capital controls significantly affect capital flows when such flows are disaggregated by asset type and direction of flow. Tests for the presence of possible asymmetric effects, substitution effects, and endogeneity of capital controls are conducted.
Number of Pages in PDF File: 37
Keywords: Capital, Capital Flows, Capital Controls, Financial Integration, Foreign Direct Investment, FDI, Malaysia, Mal, Thailand, Tha, Economic Working Paper No. 224
JEL Classification: F21, F32, F36, F41, G15, O53working papers series
Date posted: March 28, 2011
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo5 in 0.344 seconds