Advanced Search
MyIDEAS: Login

Autonomia de política econômica, fragilidade externa e equilíbrio do balanço de pagamentos

Contents:

Author Info

  • Oreiro, José Luís

Abstract

The objective of this article is to present the economic theory of capital controls, that is, the theoretical arguments that favor the introduction of capital controls. In this setting we will argue that economic theory have three main arguments for the introduction of capital controls: to increase the degree of freedom in the formulation of economic policy, to reduce the external financial fragility and to assure the inter-temporal equilibrium of the balance of payments. Critics of capital controls argue that these benefits would be out-weighted by the costs of these controls as, for example, higher levels of domestic interest rates, reduced access to international credit markets and so on. Those critics, however, do not present any kind of evidence to support their arguments. So we can conclude that criticism against the introduction of capital controls in emerging economies are based in ideological arguments rather than on economic theory.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.eco.unicamp.br/docprod/downarq.php?id=719&tp=a
Download Restriction: no

Bibliographic Info

Article provided by Instituto de Economia, Universidade Estadual de Campinas (UNICAMP) in its journal Revista Economia e Sociedade.

Volume (Year): 23 (2004)
Issue (Month): (January)
Pages: 22

as in new window
Handle: RePEc:euc:ancoec:v:23:y:2004:p:1-22

Contact details of provider:
Postal: Caixa Postal: 6135 - CEP 13083-970, Campinas - SP - Brasil
Phone: (019) 788-5726
Fax: (019) 289-1512
Web page: http://www.eco.unicamp.br/
More information through EDIRC

Related research

Keywords: Capital controls; Economic policy; External fragility.;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:euc:ancoec:v:23:y:2004:p:1-22. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Antonio Carlos Macedo e Silva).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.