Capital Mobility Based on Onshore-Offshore Arbitrage: Empirical Evidence from India and China

被引：0
|
作者：
Aggarwal, Nidhi [1 ]
Arora, Sanchit [2 ]
Sengupta, Rajeswari [3 ,4 ]
机构：
[1] Indian Inst Management, Udaipur, India
[2] Deloitte, London, England
[3] Indira Gandhi Inst Dev Res IGIDR, Mumbai, India
[4] Indira Gandhi Inst Dev Res, Gen AK Vaidya Marg,Goregaon East, Mumbai 400065, India
来源：
OPEN ECONOMIES REVIEW | 2024年
关键词：
Capital mobility; No-arbitrage bands; Covered interest parity; Capital controls; Structural breaks; G15; F30; F31; F32; STRUCTURAL-CHANGES;
D O I：
10.1007/s11079-024-09787-0
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, we empirically examine the changes over time in the degree of capital mobility for India and China. We find that the somewhat haphazard process of capital account liberalisation undertaken by the Indian and Chinese authorities gets reflected in large variations in Covered Interest Parity (CIP) deviations overtime. In recent years, the deviations have become smaller and the no-arbitrage bands have become narrower, implying greater capital mobility for both the countries. However, compared to India, China's capital controls still seem to bind. Over the years, India has achieved greater capital mobility compared to China.
引用
收藏
页数：31
相关论文
共 50 条
  • [21] Effect of social capital on vulnerability to violence: empirical evidence from India
    Tyagi, Malvika
    JOURNAL OF SOCIAL AND ECONOMIC DEVELOPMENT, 2021, 23 (01) : 106 - 127
  • [22] Faking trade for capital control evasion: Evidence from dual exchange rate arbitrage in China 
    Liu, Renliang
    Sheng, Liugang
    Wang, Jian
    JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2023, 138
  • [23] The application of large volume airgun sources to the onshore-offshore seismic surveys: implication of the experimental results in northern South China Sea
    Qiu XueLin
    Chen Yong
    Zhu RiXiang
    Xu HuiLong
    Shi XiaoBin
    Ye ChunMing
    Zhao MingHui
    Xia ShaoHong
    CHINESE SCIENCE BULLETIN, 2007, 52 (04): : 553 - 560
  • [24] LITHOSPHERIC STRUCTURE OF THE QUEEN-CHARLOTTE-ISLANDS - HECATE STRAIT REGION FROM ONSHORE-OFFSHORE SEISMIC STUDIES
    MACKIE, DJ
    DEHLER, SA
    CLOWES, RM
    ELLIS, RM
    GEOPHYSICS, 1985, 50 (08) : 1371 - 1371
  • [25] Does air pollution affect the accumulation of technological innovative human capital? Empirical evidence from China and India
    Wang, Feng
    Wu, Min
    JOURNAL OF CLEANER PRODUCTION, 2021, 285
  • [26] The application of large volume airgun sources to the onshore-offshore seismic surveys: implication of the experimental results in northern South China Sea
    QIU XueLin1
    2 Institute of Geophysics
    3 Institute of Geology and Geophysics
    4 Earthquake Administration of Guangdong Province
    Chinese Science Bulletin, 2007, (04) : 553 - 560
  • [27] Capital mobility in Europe from an empirical viewpoint - Evidence and implications for economic policy
    Jungmittag, A
    Untiedt, G
    JAHRBUCHER FUR NATIONALOKONOMIE UND STATISTIK, 2002, 222 (01): : 42 - 63
  • [28] International capital mobility and unemployment dynamics: Empirical evidence from OECD countries
    Vallanti, Giovanna
    WORLD ECONOMY, 2018, 41 (11): : 3130 - 3171
  • [29] Deep structure of the Mid-Norwegian shelf and onshore-offshore correlations: Insight from potential field data
    Skilbrei, JR
    Olesen, O
    ONSHORE-OFFSHORE RELATIONSHIPS ON THE NORTH ATLANTIC MARGIN, 2005, 12 : 43 - 68
  • [30] Comparative velocity structure of active Hawaiian volcanoes from 3-D onshore-offshore seismic tomography
    Park, J.
    Morgan, J. K.
    Zelt, C. A.
    Okubo, P. G.
    Peters, L.
    Benesh, N.
    EARTH AND PLANETARY SCIENCE LETTERS, 2007, 259 (3-4) : 500 - 516
12345