Can short-term capital controls promote capital inflows?

被引：8
|
作者：
Cordella, T [1 ]
机构：
[1] Int Monetary Fund, Dept Res, Washington, DC 20431 USA
来源：
JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2003年 / 22卷 / 05期
关键词：
capital controls; capital inflows; bank runs; herd behavior;
D O I：
10.1016/S0261-5606(03)00051-2
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
In an economy la Diamond and Dybvig (J. Polit. Econ. 91 (3) (1983) 401), we present an example in which foreign lenders find it profitable to invest in an emerging market if, and only if, the emerging market government imposes taxes on short-term capital inflows. This implies that capital controls that are effective in reducing the vulnerability of emerging markets to financial crises may increase the volume of capital inflows. (C) 2003 Elsevier Ltd. All rights reserved.
引用
收藏
页码：737 / 745
页数：9
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