Gallego Yáñez, FranciscoHernández T., LeonardoSchmidt-Hebbel, Klaus2019-11-012019-11-012002956-7421-072https://hdl.handle.net/20.500.12580/3647Controls 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..pdfSección o Parte de un Documentop. 361-412engAttribution-NonCommercial-NoDerivs 3.0 ChileMOVIENTOS DE CAPITALTIPO DE CAMBIOArtículo