holmesandthestolenstones

--> Contact Us Sitemap Access 日本語 ENGLISH About RIEB Message Outline History Former Directors Organization Staff Accounts Internatinal Exchange Faculty Global Economy Unit Corporate Competitiveness Unit Corporate Information Unit Global Finance Unit Integrated Center for Corporate Archives Center for the Promotion of Regional Co-Creation Research Office of Promoting Research Collaboration Visiting and Adjunct Researcher Faculty Awards (in Japanese) Research Fellow Emeritus Professor Research Research Projects Publications Integrates Center for Corporate Archives Early Moden DataBase Seminars at RIEB Seminar Schedule All Seminars RIEB & Kanematsu Seminars Latin America Seminars Monetary Economics Seminar of Kobe University (in Japanese) Kanebo Seminar of Kobe University (in Japanese) Past Seminars Education & Society Symposia Social Contribution & Education Kanematsu Prize Sections Integrated Center for Corporate Archives Center for the Promotion of Regional Co-Creation Research United Nations Depository Library RIEB Library Computer Laboratory Local Page--> HOME Research Publications Discussion Paper Series（English） RIEB Discussion Paper Series No.2022-38 RIEB Discussion Paper Series No.2022-38 RIEB Discussion Paper Series No.2022-38 Title Effectiveness of Capital Controls: Gates versus Walls 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, although they are in the expected directions, the impulse responses of capital controls are statistically insignificant. Making various distinctions among samples (such as advanced and emerging economies and pre- and post-crisis periods), we still find that most results are statistically insignificant. However, the canonical distinction between the "gate" and "wall" economies indicates that the effectiveness of capital controls is relevant for the "wall" emerging economies. Keywords Capital flows; Capital controls; Local projection JEL Classification E69, F32, F38, F41 Inquiries Yang ZHOU Institute of Developing Economies, JETRO Junior Research Fellow, RIEB, Kobe University Shigeto KITANO Research Institute for Economics and Business Administration Kobe University Rokkodai-cho, Nada-ku, Kobe 657-8501 Japan Phone: +81-78-803-7036 FAX: +81-78-803-7059 Site Top About RIEB Faculty Research Seminars at RIEB Education & Society Sections Site Policy Sitemap Access Contact Information © Research Institute for Economics and Business Administration, Kobe University. All Rights Reserved. Contact Us Site Policy (in Japanese) Sitemap Access 日本語 ENGLISH