Exchange and capital controls as barriers to trade
By: Tamirisa, Natalia T.
Material type:
ArticlePublisher: 1999Description: p.69-88.Subject(s): Trade | International trade | Foreign exchange | Exchange rates
In:
IMF Staff PapersSummary: This paper considers the effect of exchange and capital controls on trade in the gravity-equation framework, in which bilateral exports depend on the distance between countries, the countries' size and wealth, tariff barriers, and exchange and capital controls. The extent of exchange and capital controls is measured by unique indices. In view of the degree to which countries have liberalaized their exchange systems, controls on current payments and transfers are found to be a minor impediment to trade, while capital controls significantly reduce exports into developing and transition economies. Thus, further capital account liberalization could significantly foster trade. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 46, Issue no: 1 | Available | AR42309 |
This paper considers the effect of exchange and capital controls on trade in the gravity-equation framework, in which bilateral exports depend on the distance between countries, the countries' size and wealth, tariff barriers, and exchange and capital controls. The extent of exchange and capital controls is measured by unique indices. In view of the degree to which countries have liberalaized their exchange systems, controls on current payments and transfers are found to be a minor impediment to trade, while capital controls significantly reduce exports into developing and transition economies. Thus, further capital account liberalization could significantly foster trade. - Reproduced
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