Documents de travail du Département des Affaires économiques de l'OCDE
Documents de travail du Département des affaires économiques de l’OCDE recouvrant toutes les activités de ce département : conjoncture économique, analyse politique et projections ; politique fiscale, dépenses publiques et fiscalité ; questions structurelles dont le vieillissement, la croissance et la productivité, la migration, l’environnement, le capital humain, le logement, les échanges et les investissements, les marchés de l’emploi, la réforme réglementaire, la concurrence, la santé et d’autres thèmes.
- ISSN: 18151973 (online)
- https://doi.org/10.1787/18151973
Capital flow deflection under the magnifying glass
In a financially interconnected world, individual countries’ policy choices affect other economies and can become a source of international shocks. Leveraging on a new quarterly dataset of capital control adjustments, we find renewed evidence that the introduction of capital controls in one economy increases capital inflows to other similar borrowing economies.
Keywords: Capital controls, Bilateral capital flows, Externalities, Spillovers, Emerging markets
JEL:
F38: International Economics / International Finance / International Financial Policy: Financial Transactions Tax; Capital Controls;
F21: International Economics / International Factor Movements and International Business / International Investment; Long-Term Capital Movements;
F42: International Economics / Macroeconomic Aspects of International Trade and Finance / International Policy Coordination and Transmission;
F32: International Economics / International Finance / Current Account Adjustment; Short-Term Capital Movements
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