One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms

Journal of International Economics - Tập 71 Số 2 - Trang 294-323 - 2007
Kristin J. Forbes1
1MIT-Sloan School of Management, Room E52-455, 50 Memorial Drive, Cambridge, MA 02142, United States

Tóm tắt

Từ khóa


Tài liệu tham khảo

Arellano, 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, Review of Economic Studies, 58, 277, 10.2307/2297968

Arellano, 1995, Another look at the instrumental–variable estimation of error components models, Journal of Econometrics, 68, 29, 10.1016/0304-4076(94)01642-D

Ariyoshi, 2000, Capital controls: country experiences with their use and liberalization, vol. 190

Beck, 2004, Stock markets, banks, and growth: panel evidence, Journal of Banking and Finance, 28, 423, 10.1016/S0378-4266(02)00408-9

Campbell, 1996, Understanding risk and return, Journal of Political Economy, 104, 298, 10.1086/262026

Cowan, 1998, Exchange rate policies and capital account management: Chile in the 1990s, 465

De Gregorio, 2000, Controls on capital inflows: do they work?, Journal of Development Economics, 63, 59, 10.1016/S0304-3878(00)00100-0

Desai, M., Foley, C.F., Hines, J., in press. Capital Controls, Liberalizations, and Foreign Direct Investment. Review of Financial Studies.

Edison, 2002, Capital Account Liberalization and Economic Performance: Survey and Synthesis, vol. 9100

Edwards, 1999, A capital idea? Reconsidering a financial quick fix, Foreign Affairs, 78, 18, 10.2307/20049277

Edwards, 2000, Interest Rates, Contagion and Capital Controls, vol. 7801

Erickson, 2000, Measurement error and the relationship between investment and Q, Journal of Political Economy, 108, 1027, 10.1086/317670

Fischer, 2002, Financial Crises and Reform of the International Financial System, vol. 9267

Forbes, 2003, One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms, vol. 9777

Forbes, 2004, The Asian flu and Russian virus: the international transmission of crises in firm-level data, Journal of International Economics, 63, 59, 10.1016/S0022-1996(03)00044-8

Gallego, 2003, Microeconomic effects of capital controls: the Chilean experience during the 1990s, International Journal of Finance and Economics, 8, 225, 10.1002/ijfe.207

Gallego, 2001, Financial structure in Chile: macroeconomic developments and microeconomic effect, 299

Gallego, 1999, Capital Controls in Chile: Effective? Efficient?, vol. 59

Gilchrist, 1999, Investment: fundamentals and finance, vol. 13, 223

Griliches, 1986, Errors in variables in panel data, Journal of Econometrics, 31, 93, 10.1016/0304-4076(86)90058-8

Harrison, 2004, Global capital flows and financing constraints, Journal of Development Economics, 75, 269, 10.1016/j.jdeveco.2003.10.002

Holtz-Eakin, 1990, Estimating vector autoregressions with panel data, Econometrica, 56, 1371, 10.2307/1913103

Hubbard, 1998, Capital-market imperfections and investment, Journal of Economic Literature, 36, 193

International Monetary Fund, 2002

Kaminsky, 2003, Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization, vol. 9787

Laeven, 2003, Does financial liberalization reduce financial constraints?, Financial Management, 32, 5, 10.2307/3666202

Love, 2003, Financial development and financing constraints: international evidence from the structural investment model, Review of Financial Studies, 16, 765, 10.1093/rfs/hhg013

McMillan, 2002, The central role of entrepreneurs in transition economies, Journal of Economic Perspectives, 16, 153, 10.1257/089533002760278767

Modigliani, 1958, The cost of capital, corporation finance, and the theory of investment, American Economic Review, 48, 261

Prasad, 2003, Effects of Financial Globalization on Developing Countries: Some Empirical Evidence, vol. 220

Schiantarelli, 1995, Financial constraints and investment: a critical review of methodological issues and international evidence, 177

Simone, 1999, A Review of Capital Account Restrictions in Chile in the 1990s, vol. 99/52

Staiger, 1997, Instrumental variables regressions with weak instruments, Econometrica, 65, 557, 10.2307/2171753

Stein, 2001, Agency, information and corporate investment, 111

Valdés-Prieto, 1998, The effectiveness of capital controls: theory and evidence from Chile, Empirica, 25, 133, 10.1023/A:1006992208022