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Friday, July 17, 2020 | History

3 edition of One cost of the Chilean capital controls found in the catalog.

One cost of the Chilean capital controls

Kristin Forbes

One cost of the Chilean capital controls

increased financial constraints for smaller trade firms

by Kristin Forbes

  • 213 Want to read
  • 33 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Monetary policy -- Chile,
  • Investments -- Chile,
  • Corporations -- Chile -- Finance

  • Edition Notes

    StatementKristin J. Forbes.
    SeriesNBER working paper series -- no. 9777., Working paper series (National Bureau of Economic Research) -- working paper no. 9777.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination49 p. :
    Number of Pages49
    ID Numbers
    Open LibraryOL17614947M
    OCLC/WorldCa52522806

    Similarly, lower capital control in China’s equity market lessens credit constraints for non-connected firms. No statistically-significant impact is detected with regards to firms that have CEO/Chairman with powerful political background. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms.   Edwards, Sebastián (), “How Effective are Capital Controls?”, Journal of Economic Perspectives, 13(4), Fall. Forbes, Kristin J (), “One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms”, Journal of .

    Financial flows to Chile, like to emerging markets in general, fell dramatically as investors panicked. By the end of , Chile had experienced Latin America's most severe "sudden stop" of external capital flows. In this new economic environment, Chile was forced to reevaluate its system of capital controls. indebtedness of the Chilean debtor is greater than three times its equity, a 35% penalty tax is levied on interest payments made to related parties, which is to be paid by the Chilean debtor. In determining tax equity for these purposes, capital contributions which have been directly or indirectly financed by related parties are not considered.

    One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. () Journal of International Economics, vol 71(2, April), pgs. The Microeconomic Evidence on Capital Controls: No Free Lunch (). D. Weighted Average Cost of Capital (WACC) The weighted average cost of capital (WACC) is also the firm's cost of capital. WACC is the minimum return the company must earn on an existing asset to satisfy whoever provides the firm's capital, such as lenders, creditors, owners, investors, and others.


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One cost of the Chilean capital controls by Kristin Forbes Download PDF EPUB FB2

There is growing support for taxes on short-term capital inflows in emerging markets, such as the encaje adopted by Chile from to This paper assesses whether the Chilean capital controls increased financial constraints for different-sized, publicly-traded by: Get this from a library.

One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms. [Kristin J Forbes; National Bureau of Economic Research.;] -- There is growing support for taxes on short-term capital inflows in emerging markets.

One cost of the Chilean capital controls: increased financial constraints for smaller trade firms Author: Kristin Forbes ; National Bureau of Economic Research. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. By Kristin J.

Forbes* MIT-Sloan School of Management. Forthcoming: Journal of International Economics. Abstract: There is growing support for taxes on short-term capital inflows in emerging markets, such as the.

encaje. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms Kristin J. Forbes. NBER Working Paper No. Issued in June NBER Program(s):International Finance and MacroeconomicsCited by: One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms Kristin J.

Forbes ⁎ MIT-Sloan School of Management, Room E, 50 Memorial Drive, Cambridge, MAUnited States. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms NBER Working Paper No. w Number of pages: 51 Posted: 15 Jun Last Revised: 04 Nov Published: Forbes, Kristin J., "One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms," Journal of International Economics, Elsevier, vol.

71(2), pagesApril. citation courtesy of. Users who downloaded this paper also downloaded* these. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. MIT Sloan Working Paper No.

Number of pages: 53 Posted: 28 Dec Downloads 1, One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms. "One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms," Journal of International Economics, Elsevier, vol.

71(2), pagesApril. Kristin J. Request PDF | One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms | There is growing support for taxes on short-term capital inflows in emerging. Chilean Unremunerated Reserve Requirement Capital Controls as a Screening Mechanism Abstract This paper presents a model of Chilean style “speed bump” capital controls that interprets them raises their relative price.

A surprising result is that even though speed bumps raise the cost of capital, they may actually increase the level of. One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms.

One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms” MIT-Sloan School Working Paper. By and Kristin J. Forbes and Kristin J. Forbes. Abstract. Carmen Reinhart and Ashoka Mody for providing generous support and encouragement at the initial stages of this project.

The views expressed herein are. One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. By KRISTIN J. FORBES. Download PDF (2 MB) Abstract. There is growing support for taxes on short-term capital inflows in emerging markets, such as the encaje adopted by Chile from One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms.

By KRISTIN J. FORBES. Abstract. There is growing support for taxes on short-term capital inflows in emerging markets, such as the encaje adopted by Chile from Previous empirical assessments of the encaje conclude that it may have.

One Cost of Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. Journal of International Economics 71(2): – Gelos, Gaston, and Shang-Jin Wei. Transparency and International Portfolio Holdings. Journal of Finance 60(6): –   Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads, with a one-standard-deviation increase in our capital controls index increasing spreads by up to 35 basis points.

The effect of capital. Capital Controls in Brazil: Effective. Marcos Chamon International Monetary Fund Márcio Garcia Brazil has been one of the leading countries in this effort to manage inflows, and one of the most () analyzes the potential costs of the Chilean controls, finding that they increased financing costs, particularly for small and medium.

Shaded inserts examine case studies in capital controls: the U.S. Interest Equalization Tax ofthe Chilean Encaje of the s, and the restrictions imposed by Malaysia in September. One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms Journal of International Economics,71, (2), View citations (97) See also Working Paper () Capital Controls: Mud in the Wheels of Market Efficiency Cato Journal,25, (1), View citations (11).Downloadable!

This paper studies the effects of the capital controls imposed by Chile between andi.e. the Chilean encaje, on firms’ production, investment and exporting decisions. We use a general equilibrium model with heterogeneous firms and financial constraints to illustrate the mechanism by which capital controls on inflows affect firm-level dynamics and international trade.().

Microeconomic effects of The Microeconomic Evidence on Capital Controls capital controls: The Chilean experience during the s. (). One cost of the Chilean capital controls: Increased financial constraints for smaller traded firms.

(). Risk sharing and asset prices: Evidence from a natural experiment.