Government Revenue from Financial Repression
This paper presents an analysis of the theoretical underpinnings and the relevance of the phenomenon of financial repression from a public-finance perspective. The analysis explicitly accounts for the interaction between capital controls and financial repression. The proposed empirical estimate of the revenue from financial repression is based on the difference between the domestic and the foreign cost of borrowing of the government. The correlations of the revenue from financial repression with inflation, exchange rates and per-capita income are discussed.
|Date of creation:||Jan 1991|
|Date of revision:|
|Publication status:||published as American Economic Review, Vol. 83, no. 4 (1993): 953-963.|
|Note:||PE ITI ME IFM|
|Contact details of provider:|| Postal: |
Web page: http://www.nber.org
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Easterly, William R., 1989. "Fiscal adjustment and deficit financing during the debt crisis," Policy Research Working Paper Series 138, The World Bank.
- Heady, Christopher J. & Mitra, Pradeep K., 1987. "Distributional and revenue raising arguments for tariffs," Journal of Development Economics, Elsevier, vol. 26(1), pages 77-101, June.
- Fry, Maxwell J., 1982. "Models of financially repressed developing economies," World Development, Elsevier, vol. 10(9), pages 731-750, September.
- Rudiger Dornbusch & Alejandro Reynoso, 1989.
"Financial Factors in Economic Development,"
NBER Working Papers
2889, National Bureau of Economic Research, Inc.
- Giovannini, Alberto, 1988. "International Capital Mobility and Tax Evasion," CEPR Discussion Papers 231, C.E.P.R. Discussion Papers.
- Gordon, R.H. & Levisohn, J., 1989.
"The Linkage Between Domestic Taxes And Borber Taxes,"
244, Research Seminar in International Economics, University of Michigan.
- Roger H. Gordon & James A. Levinsohn, 1990. "The Linkage between Domestic Taxes and Border Taxes," NBER Chapters, in: Taxation in the Global Economy, pages 357-396 National Bureau of Economic Research, Inc.
- Giovannini, Alberto, 1985. "Saving and the real interest rate in LDCs," Journal of Development Economics, Elsevier, vol. 18(2-3), pages 197-217, August.
- Lizondo, Jose Saul, 1983. "Foreign exchange futures prices under fixed exchange rates," Journal of International Economics, Elsevier, vol. 14(1-2), pages 69-84, February.
- Corbo, Vittorio & de Melo, Jaime, 1987. "Lessons from the Southern Cone Policy Reforms," World Bank Research Observer, World Bank Group, vol. 2(2), pages 111-42, July.
- Fischer, Stanley, 1982. "Seigniorage and the Case for a National Money," Journal of Political Economy, University of Chicago Press, vol. 90(2), pages 295-313, April.
- Dixit, Avinash, 1985. "Tax policy in open economies," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 1, chapter 6, pages 313-374 Elsevier.
- Diamond, Peter A & Mirrlees, James A, 1971. "Optimal Taxation and Public Production: I--Production Efficiency," American Economic Review, American Economic Association, vol. 61(1), pages 8-27, March.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:3604. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.