Capital Controls

Ilzetzki, Ethan, Carmen M. Reinhart, and Kenneth Rogoff Exchange Rate Arrangements in the 21st Century: Which Anchor Will Hold?, National Bureau of Economic Research, Working Paper 23134, February 2017. Forthcoming in Quarterly Journal of Economics, May 2019.
Note: A new index of capital controls, 1946-2016 is introduced.


Ilzetzki, Ethan, Carmen M. Reinhart, and Kenneth Rogoff The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold? National Bureau of Economic Research, Working Paper 23135, February 2017.

Magud, Nicolas, Carmen M. Reinhart, and Kenneth S. Rogoff Capital Controls: Myth and Reality - A Portfolio Balance Approach, Annals of Economics and Finance, Vol. 19(1), May 2018, 1-47.  

Magud, Nicolas, and Carmen M. Reinhart, Capital Controls: An Evaluation in Sebastian Edwards (ed.), Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences (Chicago: Chicago University Press for the NBER, 2007).

Reinhart, Carmen M., and Todd Smith, Temporary Controls on Capital Inflows Journal of International Economics, Vol. 57 No. 2, December 2002, 327-351.

Edison, Hali, and Carmen M. Reinhart, Stopping Hot Money: On the Use of Capital Controls During Financial Crises, Journal of Development Economics, Vol. 66 No. 2 December 2001, 533-553.

Edison, Hali, and Carmen M. Reinhart, Capital Controls During Financial Crises: The Case of Malaysia and Thailand, in Reuven Glick ed. Financial Crises in Emerging Markets (Cambridge: Cambridge University Press, 2001), 427-456.

Montiel, Peter, and Carmen M. Reinhart, Do Capital Controls and Macroeconomic Policies Influence the Volume and Composition of Capital Flows? Evidence from the 1990s , Journal of International Money and Finance, Vol. 18 No. 4, August 1999, 619-635.

Reinhart, Carmen M. and Vincent R. Reinhart, On the Use of Reserve Requirements to Deal With the Capital Flow Problem, International Journal of Finance and Economics, Vol. 4 No.1, January 1999, 27-54.

Reinhart, Carmen M., and Todd Smith, Too Much of a Good Thing: The Macroeconomic Effects of Taxing Capital Inflows, in Reuven Glick, ed. Managing Capital Flows and Exchange Rates: Perspectives from the Pacific Basin, (Cambridge: Cambridge University Press, 1998), 436-464.