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Capital Controls Checkup: Cases, Customs, Consequences

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  • Goldbach, Stefan
  • Nitsch, Volker

Abstract

This paper examines the effect of administrative restrictions on cross-border capital transactions. Using highly disaggregated data from the German balance of payments statistics for the period from 1999 through 2017, we document several stylized facts about the effectiveness of such capital control policies introduced by other countries. Capital controls are associated with economically and statistically significant declines in capital flows; they affect bilateral financial relationships along both the extensive and the intensive margin.

Suggested Citation

  • Goldbach, Stefan & Nitsch, Volker, 2022. "Capital Controls Checkup: Cases, Customs, Consequences," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 135405, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    • Handle: RePEc:dar:wpaper:135405
    Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/135405/
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    File URL: https://link.springer.com/article/10.1057/s41308-022-00193-5
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    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls

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