Year: 2026
Type: article
Abstract: This study analyzes the effectiveness of capital controls on international debt flows using data of 81 economies, including both advanced and emerging economies, over the period from 1995 to 2019. The analysis using the total sample shows that the impulse responses of capital controls are in the expected directions, although they are barely statistically significant. Making various distinctions among samples (such as advanced and emerging economies and pre- and post-crisis periods) does not necessarily improve our result in most cases compared to the total sample case. However, the distinction between the “gate” and “wall” economies indicates that the effectiveness of capital controls is most relevant for the “wall” emerging economies.
Source: Empirical Economics
Authors: Yang Zhou, Shigeto Kitano
Institutions: Nagoya City University, Kobe University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,490
Awards: The impact of capital controls on GDP growth distribution in emerging countries, Risk Management of Comprehensive Monetary/Fiscal Policy: From Financial Crises to International Relations and Natural Disasters, Risks underlying in the global expansion of private debt and macroeconomic policies in emerging economies
OpenAlex ID: W7128397498