Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/223252 
Year of Publication: 
2020
Series/Report no.: 
Deutsche Bundesbank Discussion Paper No. 47/2020
Publisher: 
Deutsche Bundesbank, Frankfurt a. M.
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. Capital controls have also been effective in reducing capital flows within the European Union.
Subjects: 
restriction
capital flow
transaction
JEL: 
F32
F36
F38
ISBN: 
978-3-95729-762-4
Document Type: 
Working Paper

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