Effects of capital flow liberalization : what is the evidence from recent experiences of emerging market economies? / Tahsin Saadi Sedik and Tao Sun.

By:

Saadi-Sedik, Tahsin [author.]

Contributor(s):

Material type: Text

TextSeries: IMF working paper ; WP/12/275.Publication details: [Washington, D.C.] : International Monetary Fund, ©2012.Description: 1 online resource (27 pages) : color illustrations, color mapsContent type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9781475547276
1475547277
1475564570
9781475564570

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Genre/Form:

Additional physical formats: Print Version:: No titleDDC classification:

332/.042 23

LOC classification:

HG3881.5.I58 W67 No. 12/275eb

Online resources:

Click here to access online

Contents:

Cover; Abstract; Contents; I. Introduction; II. Measuring Capital Flow Restrictiveness; III. Recent Trends in Capital Flow Liberalization; Figures; 1. Capital Flow Liberalization Index; 2. Liberalization of Capital Flows, 1997 and 2010; Tables; 1. Countries that Liberalized During 1995-2010; IV. Empirical Strategy and Results; V. Simulation of the Effects of Capital Flow Liberalization on China; 3. De Jure and de Facto Measure of Liberalizing Capital Flows (2010); 4. Effects of Liberalizing Capital Flows in China; VI. Conclusions and Policy Implications; References.

2. Panel Regressions-Real GDP per Capita Growth3. Panel Regressions-Inflation; 4. Panel Regressions-Equity returns; 5. Panel Regressions-Capital Adequacy Ratios; 6. Panel Regressions-Capital Inflows; 7. Panel Regressions-Capital Outflows; Appendices; I. Data Definition and Sources; II. Assumptions for Simulation of the Effects of Capital Flow Liberalization on China.

Summary: "This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability. The results of the panel data regressions indicate that greater openness to capital flows is associated with higher growth, gross capital flows, and equity returns and with lower inflation and bank capital adequacy ratios. The effects vary depending on thresholds. As a potential application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of explanatory variables to the corresponding variables of China in 2012-16"--Page 2 of pdf.

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Title from PDF title page (IMF Web site, viewed Nov. 26, 2012).

"Monetary and Capital Markets Department"--Page 2 of pdf.

"November 2012"--Page 2 of pdf.

"This paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability. The results of the panel data regressions indicate that greater openness to capital flows is associated with higher growth, gross capital flows, and equity returns and with lower inflation and bank capital adequacy ratios. The effects vary depending on thresholds. As a potential application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of explanatory variables to the corresponding variables of China in 2012-16"--Page 2 of pdf.

Includes bibliographical references (pages 17-18).

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