Working Papers in full text
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
All
Other research-related activities and publications of the IMF can be found at IMF Research
|
Free Email Notification
Receive emails when we post new
items of interest to you.
Subscribe or
Modify your profile
|
|
|
|
A Simple Measure of the Intensity of Capital Controls
|
Author/Editor: |
Edison, Hali J. | Warnock, Francis E. |
| Authorized for Distribution: |
November 1, 2001 |
|
Electronic Access: |
Free Full Text (PDF file size is 1,498KB)
Use the free Adobe Acrobat Reader to view this PDF file.
|
|
|
|
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
|
|
Summary: We present a readily available monthly measure of the intensity of capital controls across 29 emerging market countries that is based on the degree of restrictions on foreign ownership of equities. The initial opening of a market as given by our measure corresponds well with the liberalization dates of Bekaert and Harvey (2000a). In addition, our measure provides information on the extent of the initial opening as well as the evolution of the liberalization over time. After presenting the measure, we compare it to other existing measures of capital controls and briefly describe empirical applications concerning home bias, capital flows to emerging markets, and the effects of financial liberalization on the cost of capital.
|
|
|
|
Series: |
Working Paper No. 01/180 |
|
Subject(s): |
Capital controls | Emerging markets | Capital account liberalization | Economic models |
|
Author's keyword(s): |
emerging markets | international financial liberalization | openness | portfolio investment |
|
|
|
|
| |
Published: |
|
November 1, 2001 |
|
|
|
|
| |
ISBN/ISSN: |
|
1934-7073 |
|
Format: |
|
Paper |
| |
Stock No: |
|
WPIEA1802001 |
|
Pages: |
|
33 |
| |
Price: |
|
US$15.00
|
|
|
|
|
|
| |
|
|
|
Price Delivery Note: |
Prepayment required for individual copies. An annual subscription is $375.00 a year. It includes 12 monthly shipments and priority mail delivery. The Stock No. for the subscription is WPEA. |
|
Please address any questions about this title to publications@imf.org.
|
|
