scholarly journals International Reserves and Gross Capital Flows: Dynamics During Financial Stress

2012 ◽  
Vol 2012 (110) ◽  
Author(s):  
Enrique Alberola ◽  
◽  
Aitor Erce ◽  
José Maria Serena ◽  
◽  
...  
Keyword(s):  
Capital Flows ◽  
Financial Stress ◽  
International Reserves ◽  
Gross Capital Flows

International reserves and gross capital flows dynamics

2016 ◽  
Vol 60 ◽  
pp. 151-171 ◽  
Author(s):  
Enrique Alberola ◽  
Aitor Erce ◽  
José Maria Serena
Keyword(s):  
Capital Flows ◽  
International Reserves ◽  
Gross Capital Flows

Dynamics of Gross Capital Flows and Financial Stress in China

2021 ◽  
pp. 102041
Author(s):  
Lirong Wang ◽  
Jinnan Zhou ◽  
C. James Hueng
Keyword(s):  
Capital Flows ◽  
Financial Stress ◽  
Gross Capital Flows

scholarly journals Banking Crises, External Crises and Gross Capital Flows

2016 ◽  
Vol 2016 (273) ◽  
Author(s):  
Thorsten Janus ◽  
◽  
Daniel Riera-Crichton ◽  
Keyword(s):  
Capital Flows ◽  
Banking Crises ◽  
Gross Capital Flows

scholarly journals Gross Capital Flows: Dynamics and Crises

2011 ◽  
Author(s):  
Fernando Broner ◽  
Tatiana Didier ◽  
Aitor Erce ◽  
Sergio L. Schmukler
Keyword(s):  
Capital Flows ◽  
Gross Capital Flows

Dynamics of capital controls: panel evidence from Asia

2020 ◽  
Vol 47 (2) ◽  
pp. 242-263
Author(s):  
Biplab Kumar Guru ◽  
Inder Sekhar Yadav
Keyword(s):  
Capital Flows ◽  
Capital Controls ◽  
Substitution Effect ◽  
Capital Flight ◽  
Empirical Examination ◽  
Content Type ◽  
Asian Economies ◽  
Asset Classes ◽  
The Impact ◽  
Gross Capital Flows

PurposeThis study empirically examines the effect of capital controls on the volume and composition of capital flows at aggregated as well as at disaggregated level by different asset classes such as debt, FDI, equity, and derivatives.Design/methodology/approachSeveral dynamic panel SYS-GMM models are employed on two sets of unique data on cross-border capital flows and capital control index along with control variables at aggregated and disaggregated level by different asset classes during 1995–2015 for a sample of 31 Asian economies.FindingsEconometric findings suggest that higher capital controls effectively reduce gross capital flows. The reduction in gross capital flows is largely found to be on account of effectiveness of controls on equity flows. However, the impact of controls on overall debt and derivative flows is found to be insignificant. Further, it was found that an increase in direct capital controls disaggregated by inflow and outflow categories significantly reduced the inflow of debt and equity + FDI flows and outflow of equity + FDI and derivative flows. Finally, the study did not find any substitution effect (due to indirect controls) and net effect on capital flows.Practical implicationsResults of such empirical examination may enable governments in respective countries to pursue prudent and rational capital controls as a shield against capital flight and shock transmission.Social implicationsPreventing capital flight through effective controls has macroeconomic benefits such as maintaining stability in income, growth, interest rate, exchange rate, and employment levels for the society.Originality/valueThe primary contribution of the study is the analysis of effectiveness of capital controls disaggregated by different asset categories such as debt, equity, FDI, and derivatives using two unique recent data sets for a large sample of Asian economies.

scholarly journals Gross Capital Flows: Dynamics and Crises

2011 ◽  
Author(s):  
Fernando A. Broner ◽  
Tatiana Didier ◽  
Aitor Erce ◽  
Sergio L. Schmukler
Keyword(s):  
Capital Flows ◽  
Gross Capital Flows
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