000			01163pab a2200193 454500
008			180718b1999 xxu||||| |||| 00| 0 eng d
100			_aTamirisa, Natalia T.
245			_aExchange and capital controls as barriers to trade
260			_c1999
300			_ap.69-88
362			_aMar
520			_aThis 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
650			_aTrade
650			_aInternational trade
650			_aForeign exchange
650			_aExchange rates
773			_aIMF Staff Papers
909			_a41932
999			_c41932 _d41932