کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
963339 1479110 2015 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Foreign exchange market pressure and capital controls
ترجمه فارسی عنوان
فشار بازار ارز و کنترل سرمایه
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
This novel empirical study contributes to the literature on the foreign exchange market and financial liberalisation. We examine the determinants of exchange market pressure (EMP) in a panel of forty countries, using a statistical approach to measure market pressure, with particular focus upon the impact of capital controls. We also consider whether EMP is related to a range of other macroeconomic indicators, policy variables and trade openness. We find that capital controls are associated with weaker currencies, especially for advanced countries. Our results are robust to potential endogeneity and different measures of exchange market pressure.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Financial Markets, Institutions and Money - Volume 37, July 2015, Pages 42-53
نویسندگان
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