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Too much of a good thing: The macroeconomic effects of taxing capital inflows

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Author Info
Reinhart, Carmen
Smith, R. Todd

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Abstract

In addition to altering fiscal, monetary, and exchange rate policies in response to the surge in international capital inflows in the early 1990s,policy makers in many countries in ASIa, Eastern Europe, and Latin America have resorted to measures to control capital inflows.We provide a preliminary assessment of the effects of some of the macroeconomic effects of these policies.

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File URL: http://mpra.ub.uni-muenchen.de/13234/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13234.

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Date of creation: 1998
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Handle: RePEc:pra:mprapa:13234

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Related research
Keywords: capital controls capital inflows reserve requirements taxes;

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Find related papers by JEL classification:
F20 - International Economics - - International Factor Movements and International Business - - - General
F30 - International Economics - - International Finance - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Donald J. Mathieson & Liliana Rojas-Suárez, 1993. "Liberalization of the Capital Account: Experiences and Issues," IMF Occasional Papers 103, International Monetary Fund.
  2. James Tobin, 1978. "A Proposal for International Monetary Reform," Eastern Economic Journal, Eastern Economic Association, vol. 4(3-4), pages 153-159, Jul/Oct. [Downloadable!]
    Other versions:
  3. Eichengreen, Barry & Tobin, James & Wyplosz, Charles, 1995. "Two Cases for Sand in the Wheels of International Finance," Economic Journal, Royal Economic Society, vol. 105(428), pages 162-72, January. [Downloadable!] (restricted)
    Other versions:
  4. Marcio G. P. Garcia & Alexandre Barcinski, 1996. "Capital flows to Brazil in the nineties: Macroeconomic aspects and the effectiveness of capital controls," Textos para discussão 357, Department of Economics PUC-Rio (Brazil). [Downloadable!]
    Other versions:
  5. Garber, Peter & Taylor, Mark P, 1995. "Sand in the Wheels of Foreign Exchange Markets: A Sceptical Note," Economic Journal, Royal Economic Society, vol. 105(428), pages 173-80, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Reinhart, Carmen & Montiel, Peter, 2001. "The Dynamics of Capital Movements to Emerging Economies During the 1990s," MPRA Paper 7577, University Library of Munich, Germany. [Downloadable!]
  2. Nicolas E. Magud & Carmen Reinhart & Kenneth Rogoff, 2007. "Capital controls: myth and reality, a portfolio balance approach to capital controls," Working Paper Series 2007-31, Federal Reserve Bank of San Francisco. [Downloadable!]
    Other versions:
  3. Nicolas Magud & Carmen M. Reinhart, 2007. "Capital Controls: An Evaluation," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences, pages 645-674 National Bureau of Economic Research, Inc. [Downloadable!]
    Other versions:
  4. Gustavo Franco, 2006. "Capital inflows into Brazil, 1992-98: the nature and effects of controls and restrictions," Textos para discussão 517, Department of Economics PUC-Rio (Brazil). [Downloadable!]
  5. Reinhart, Carmen, 2006. "What is next for financial globalization: Some perspective gained from the experience of capital flows to emerging market economies," MPRA Paper 13400, University Library of Munich, Germany. [Downloadable!]
  6. Reinhart, Carmen & Smith, R Todd, 2002. "Temporary controls on capital inflows," MPRA Paper 13863, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  7. Rajesh Singh & Chetan Subramanian, 2008. "Temporary stabilization with capital controls," Economic Theory, Springer, vol. 34(3), pages 545-574, March. [Downloadable!] (restricted)
    Other versions:
  8. Reinhart, Carmen & Calvo, Guillermo, 1999. "The Consequences and Management of Capital Inflows: Lessons for Sub-Saharan Africa," MPRA Paper 7901, University Library of Munich, Germany. [Downloadable!]
  9. Hali J. Edison & Carmen M. Reinhart, 2000. "Capital controls during financial crises: the case of Malaysia and Thailand," International Finance Discussion Papers 662, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
    Other versions:
  10. Reinhart, Carmen & Montiel, Peter, 1999. "Do capital controls influence the volume and composition of capital flows? Evidence from the 1990s," MPRA Paper 13710, University Library of Munich, Germany. [Downloadable!]
  11. Lamberte, Mario B., 1999. "Currency Crisis: Where Do We Go From Here?," Discussion Papers DP 1999-10, Philippine Institute for Development Studies. [Downloadable!]
  12. M. Frenkel & G. Shimidt & G. Stadtmann & Nickle Christiane, 2002. "The Effects of Capital Controls on Exchange Rate Volatility and Output ," International Economic Journal, Korean International Economic Association, vol. 16(4), pages 27-51, December. [Downloadable!] (restricted)
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