ECB paper warns of capital control externalities

ecb-frankfurt

A working paper published by the European Central Bank (ECB) on August 10 warns of externalities imposed on other countries by the imposition of capital controls.

The authors, Kristin Forbes, Marcel Fratzscher, Thomas Kostka and Roland Straub, interviewed investors and studied data on Brazilian taxes on foreign fixed-income investments from 2006 to 2011. The researchers suggest that capital controls reduce investment directly by increasing costs and also through a signalling effect, whereby

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: