Effectiveness of Capital Restrictions: Do Regional and Income Differences Matter?

21 Pages Posted: 14 Jul 2011

See all articles by Maria Socorro Gochoco‐Bautista

Maria Socorro Gochoco‐Bautista

University of the Philippines, School of Economics

Ruth H. Francisco

University of the Philippines, Diliman - School of Economics; Asian Development Bank

Date Written: June 1, 2011

Abstract

This study examines the differences in the effectiveness of de jure capital restrictions across economies in different regions (Asia versus non-Asia) and with varying income levels. It uses a panel of 45 economies over the period 1995-2007. The results show that differences in regional and income levels matter for the effectiveness of capital restrictions.

Keywords: capital flows, capital controls, Economics Working Paper No. 261

JEL Classification: F21, F32, F36, F41, G15, O53

Suggested Citation

Gochoco-Bautista, Maria Socorro and Francisco, Ruth H., Effectiveness of Capital Restrictions: Do Regional and Income Differences Matter? (June 1, 2011). Asian Development Bank Economics Working Paper Series No. 261. Available at SSRN: https://ssrn.com/abstract=1884668 or http://dx.doi.org/10.2139/ssrn.1884668

Maria Socorro Gochoco-Bautista (Contact Author)

University of the Philippines, School of Economics ( email )

Quezon City, Diliman
Philippines

Ruth H. Francisco

University of the Philippines, Diliman - School of Economics ( email )

Encarnacion Hall
F. M. Guerrero corner S. Osmena Sts
U.P. Diliman, Quezon City
Philippines

Asian Development Bank ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

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