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  • Nicolas Magud and Carmen M. Reinhart, Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences (University of Chicago Press, 2007), chap. 14, https://www.nber.org/books-and-chapters/capital-controls-and-capital-flows-emerging-economies-policies-practices-and-consequences/capital-controls-evaluation.

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The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is not...

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