Are capital controls and Central Bank intervention effective?

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Borradores de Economía; No. 625
Date published
2010-10-20
Date of last update
2010-10-20
Author
Rincón-Castro, Hernán
Toro-Córdoba, Jorge Hernán
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
Capital controls and intervention in the foreign exchange market are two controversial policy options that many countries have adopted in the past in order to influence the exchange rate and moderate capital flows. Colombia has a long record in the use of
JEL Codes
F32 - Current Account Adjustment; Short-Term Capital MovementsE58 - Central Banks and Their PoliciesC52 - Model Evaluation, Validation, and SelectionF31 - Foreign Exchange
Keywords
Capital controls (Tobin tax) ; Central bank intervention ; GARCH regression model of the exchange rate return ; Effectiveness. ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/5642
https://hdl.handle.net/20.500.12134/5642
https://doi.org/10.32468/be.625
https://ideas.repec.org/p/bdr/borrec/625.html
https://ideas.repec.org/p/col/000094/007622.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit