Arbeitspapier
Contagious policies: An analysis of spatial interactions among countries' capital account policies
Countries' capital account policies might be contagious in the sense that domestic policies are driven by other countries' policies. A model of strategic interactions is developed to show that countries' best response to policy changes elsewhere consists in imitating this policy. Using a spatial econometric model, the hypothesis of policy interactions is tested in a large panel data set. The evidence shows that capital account policies are contemporaneously correlated across countries. Concerning fundamentals, the move to a fixed exchange rate regime and an increase in real world interest rates are correlated with the imposition of capital account restrictions.
- Sprache
-
Englisch
- Erschienen in
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Series: Working Paper ; No. 80
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
International Investment; Long-term Capital Movements
International Policy Coordination and Transmission
- Thema
-
Capital Controls
Strategic Interaction
Panel Data Analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Steiner, Andreas
- Ereignis
-
Veröffentlichung
- (wer)
-
Osnabrück University, Institute of Empirical Economic Research
- (wo)
-
Osnabrück
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Steiner, Andreas
- Osnabrück University, Institute of Empirical Economic Research
Entstanden
- 2010
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