Journal article | Zeitschriftenartikel
Capital controls and international interest rate differentials
The literature on interest rate differentials caused by capital controls is mostly case based yet. The present paper tries to find general evidence how large the interest rate differentials - and thus the distortions of capital markets - actually are. Advocates of capital controls generally argue, that capital controls (should) affect capital flow composure rather than the total, analogue to Tobin's idea concerning currency markets only. Based on a new measure for capital controls, which is including information on the direction of the flows, which are subject to the control, it is shown here with a sample of 86 countries from 1997 to 2003, that the interest rate effects are to severe to sign this assumption. The results indicate, that capital controls, as they are commonly employed, have significant impact on interest rates, hence risking accordingly high growth impeding effects.
- Umfang
-
Seite(n): 681-688
- Sprache
-
Englisch
- Anmerkungen
-
Status: Postprint; begutachtet (peer reviewed)
- Erschienen in
-
Applied Economics, 42(6)
- Thema
-
Wirtschaft
Volkswirtschaftslehre
- Ereignis
-
Geistige Schöpfung
- (wer)
-
El-Shagi, Makram
- Ereignis
-
Veröffentlichung
- (wo)
-
Vereinigte Staaten von Amerika
- (wann)
-
2010
- DOI
- URN
-
urn:nbn:de:0168-ssoar-240335
- Rechteinformation
-
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Letzte Aktualisierung
-
21.06.2024, 16:26 MESZ
Datenpartner
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Zeitschriftenartikel
Beteiligte
- El-Shagi, Makram
Entstanden
- 2010
Ähnliche Objekte (12)
Capital controls and international interest rate differentials
China's Capital Controls - Through the Prism of Covered Interest Differentials
China's capital controls: Through the prism of covered interest differentials
Interest Rates and Monetary Policy
Awareness and management of conflicts of interest
Why animals have an interest in freedom
New forms of employers' collective interest representation?
In search of a Polish interest representation pattern in the European Union - the case of sector interest organisations
A Core National Security Interest: Framing Atrocities Prevention
Political participation and interest articulation of Roma in Romania
'Today, Computers Should Interest Everybody': The Meanings of Microcomputers
Welfare effects of capital controls
Capital controls and international interest rate differentials
China's Capital Controls - Through the Prism of Covered Interest Differentials
China's capital controls: Through the prism of covered interest differentials
Interest Rates and Monetary Policy
Awareness and management of conflicts of interest
Why animals have an interest in freedom
New forms of employers' collective interest representation?
In search of a Polish interest representation pattern in the European Union - the case of sector interest organisations
A Core National Security Interest: Framing Atrocities Prevention
Political participation and interest articulation of Roma in Romania
'Today, Computers Should Interest Everybody': The Meanings of Microcomputers
Welfare effects of capital controls
Capital controls and international interest rate differentials
China's Capital Controls - Through the Prism of Covered Interest Differentials
China's capital controls: Through the prism of covered interest differentials
Interest Rates and Monetary Policy
Awareness and management of conflicts of interest
Why animals have an interest in freedom
New forms of employers' collective interest representation?
In search of a Polish interest representation pattern in the European Union - the case of sector interest organisations
A Core National Security Interest: Framing Atrocities Prevention
Political participation and interest articulation of Roma in Romania
'Today, Computers Should Interest Everybody': The Meanings of Microcomputers