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Inflationary Finance, Capital Controls, and Currency Substitution

✍ Scribed by Ajay Tandon; Yong Wang


Book ID
108534496
Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
186 KB
Volume
7
Category
Article
ISSN
0965-7576

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## Abstract For most of the post‐war period, Europe's capital markets remained largely closed to international capital flows. This paper explores the costs of this policy. Using an event‐study methodology, I examine the extent to which restrictions of current and capital account convertibility affe