Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/40276 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Research Notes No. 5
Verlag: 
Deutsche Bank Research, Frankfurt a. M.
Zusammenfassung: 
Capital controls lower the variability of the exchange rate and reduce the risk premium as well as the domestic interest rate. On the other hand, capital controls reduce the number of noise traders and, therefore, the risk-bearing capacity of the market, leading to higher interest rates and a lower growth potential of the economy. The identification of these two effects which work in opposite directions are the result of a study on the effect of capital controls on the exchange rate, the domestic interest rate, and the microstructure of the foreign exchange market in a small open economy.
Schlagwörter: 
Capital Controls
Capital Flows
Risk Premium
JEL: 
F32
F41
Dokumentart: 
Working Paper
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