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dc.contributor.authorMakin, Tonyen_US
dc.contributor.authorRobson, Alexen_US
dc.contributor.editorA/Professor Jay Bandaralageen_US
dc.date.accessioned2017-04-24T09:58:00Z
dc.date.available2017-04-24T09:58:00Z
dc.date.issued2006en_US
dc.date.modified2007-08-07T04:34:43Z
dc.identifier.issn03135926en_US
dc.identifier.urihttp://hdl.handle.net/10072/13912
dc.description.abstractThis paper examines the macroeconomic implications of capital controls that limit international financial flows to emerging economies. Using extended loanable funds analysis, it first demonstrates how perfect capital mobility contributes to development, contrary to a prevalent view that international borrowing is inimical to the economic welfare of developing economies. As a corollary, the analysis then shows that capital controls, irrespective of form, generally reduce development potential and economic welfare by widening real cross-border interest differentials. Capital controls in the form of quantitative controls, such as the Chilean unremunerated reserve requirement system, and explicit taxes on foreign investment flows impose similar welfare losses. However, quantitative controls are relatively more costly than options to tax capital flows, due to revenue effects.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherEconomic Society of Australiaen_US
dc.publisher.placeAustraliaen_US
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom1en_US
dc.relation.ispartofpageto12en_US
dc.relation.ispartofissue1 & 2en_US
dc.relation.ispartofjournalEconomic Analysis and Policyen_US
dc.relation.ispartofvolume36en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchcode340206en_US
dc.titleThe Welfare Cost of Capital Controlsen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.date.issued2006
gro.hasfulltextNo Full Text


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