NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Temporary Controls on Capital Inflows

Carmen M. Reinhart, R. Todd Smith

NBER Working Paper No. 8422
Issued in August 2001
NBER Program(s):   IFM

During the past decade a number of countries imposed capital controls that had two distinguishing features: they were asymmetric, in that they were designed principally to discourage capital inflows, and they were temporary. This paper studies formally the consequences of these policies, calibrates their potential effectiveness, and assesses their welfare implications in an environment in which the level of capital inflows can be sub-optimal. In addition, motivated by the fact that these types of controls have often been left in place after the dissipation of the shock that lead to the controls being implemented, the paper evaluates the welfare cost of procrastination in removing these types of controls.

download in pdf format
   (368 K)

email paper

This paper is available as PDF (368 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w8422

Published: Reinhart, Carmen M. and R. Todd Smith. "Temporary Controls On Capital Inflows," Journal of International Economics, 2002, v57(2,Aug), 327-351.

Users who downloaded this paper also downloaded these:
Magud and Reinhart Capital Controls: An Evaluation
Magud and Reinhart w11973 Capital Controls: An Evaluation
De Gregorio, Edwards, and Valdes w7645 Controls on Capital Inflows: Do they Work?
Kaplan and Rodrik w8142 Did the Malaysian Capital Controls Work?
Calvo and Reinhart w7993 Fear of Floating
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us