Effectiveness of Capital Restrictions: Do Regional and Income Differences Matter?
This paper finds that differences in regional and income levels matter for the effectiveness of de jure capital restrictions.
This study examines the differences in the effectiveness of de jure capital restrictions across economies in different regions (Asia versus non-Asia) and with varying income levels. It uses a panel of 45 economies over the period 1995–2007. The results show that differences in regional and income levels matter for the effectiveness of capital restrictions.
- Capital Restrictions Indexes
- Empirical Methodology
- Results and Discussion