Abstract

http://ssrn.com/abstract=227435
 
 

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Government Revenue from Financial Repression


Alberto Giovannini


Unifortune Asset Management SGR SpA

Martha De Melo


World Bank - Development Research Group (DECRG); National Bureau of Economic Research (NBER)

January 1991

NBER Working Paper No. w3604

Abstract:     
This paper presents an analysis of the theoretical underpinnings and the relevance of the phenomenon of financial repression from a public-finance perspective. The analysis explicitly accounts for the interaction between capital controls and financial repression. The proposed empirical estimate of the revenue from financial repression is based on the difference between the domestic and the foreign cost of borrowing of the government. The correlations of the revenue from financial repression with inflation, exchange rates and per-capita income are discussed.

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Date posted: May 3, 2004  

Suggested Citation

Giovannini, Alberto and de Melo, Martha, Government Revenue from Financial Repression (January 1991). NBER Working Paper No. w3604. Available at SSRN: http://ssrn.com/abstract=227435

Contact Information

Alberto Giovannini (Contact Author)
Unifortune Asset Management SGR SpA ( email )
via Donizetti, 53
Milano, 20122
Italy
Martha De Melo
World Bank - Development Research Group (DECRG)
1818 H. Street, N.W.
MSN3-311
Washington, DC 20433
United States
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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