Capital account liberalization and inflation

被引：53

作者：

Gruben, WC

McLeod, D

机构：

[1] Fordham Univ, Dept Econ, Bronx, NY 10458 USA

[2] Fed Reserve Bank Dallas, Ctr Latin Amer Econ, Dallas, TX 75201 USA

来源：

ECONOMICS LETTERS | 2002年 / 77卷 / 02期

关键词：

inflation; disinflation; capital controls; capital account liberalization;

D O I：

10.1016/S0165-1765(02)00137-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Evidence from over 100 countries suggests a strong link between capital account openness and lower inflation. In particular, widespread capital account liberalization during the early 1990s appears to have contributed to the world-wide disinflation observed during that decade. Alternative indices of capital account openness, including those of Quinn and Toyoda [Measuring International Financial Openness and Closure, Department of Political Science, Georgetown University, Washington, DC, 1996, mimeo] yield similar results. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：221 / 225

页数：5

共 8 条

[1] MEASURING THE INDEPENDENCE OF CENTRAL BANKS AND ITS EFFECT ON POLICY OUTCOMES
CUKIERMAN, A
WEBB, SB
NEYAPTI, B
[J]. WORLD BANK ECONOMIC REVIEW, 1992, 6 (03) : 353 - 398
[2] EICHENGREEN B, 2001, UNPUB CAPITAL ACCOUN
[3] GRILLI V, 1995, INT MONET FUND S PAP, V42, P517
[4] Gruben W. C., 2001, 0101 FED RES BANK DA
[5] *INT MON FUND, 1966, EXCH ARR EXCH RESTR
[6] QUINN D, 1996, MEASURING INT FINANC
[7] RODRIK D, 1998, UNPUB WHO NEEDS CAPI
[8] OPENNESS AND INFLATION - THEORY AND EVIDENCE
ROMER, D
[J]. QUARTERLY JOURNAL OF ECONOMICS, 1993, 108 (04) : 869 - 903

← 1 →