Capital controls in Chile: were they effective?
Loading...
Date
2002
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
Controls on international capital flows have no place in a world without policy distortions and markt failures. Capital controls can only be justified as second-best measures to compensate for nonremovable policy distortions, including inadequate regulation and supervision of the financial and corporate sectors and excessive insurance against exchange rate risk under limited exchange rate flexibility, among others.
Keywords
MOVIENTOS DE CAPITAL, TIPO DE CAMBIO