Price-based capital account regulations: the Colombian experience

Price-based capital account regulations: the Colombian experience

Includes bibliography

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Bibliographic Details
Main Authors: Ocampo, José Antonio, Tovar, Camilo Ernesto
Other Authors: NU. CEPAL. Unidad de Financiamiento
Format: Texto biblioteca
Language:English
Published: ECLAC 1999-10
Subjects:ASISTENCIA FINANCIERA, CONTROLES DE PRECIOS, DEUDA EXTERNA, MOVIMIENTOS DE CAPITAL, REGLAS Y NORMAS, SERVICIOS FINANCIEROS, TASAS DE INTERES, TIPOS DE CAMBIO, SISTEMAS MONETARIOS, RECURSOS FINANCIEROS, CAPITAL MOVEMENTS, EXTERNAL DEBT, FINANCIAL ASSISTANCE, FINANCIAL SERVICES, FOREIGN EXCHANGE RATES, INTEREST RATES, PRICE CONTROLS, RULES AND REGULATIONS, MONETARY SYSTEMS, FINANCIAL RESOURCES,
Online Access:https://hdl.handle.net/11362/5294
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spelling dig-cepal-11362-52942023-01-23T12:24:49Z Price-based capital account regulations: the Colombian experience Ocampo, José Antonio Tovar, Camilo Ernesto NU. CEPAL. Unidad de Financiamiento ASISTENCIA FINANCIERA CONTROLES DE PRECIOS DEUDA EXTERNA MOVIMIENTOS DE CAPITAL REGLAS Y NORMAS SERVICIOS FINANCIEROS TASAS DE INTERES TIPOS DE CAMBIO SISTEMAS MONETARIOS RECURSOS FINANCIEROS CAPITAL MOVEMENTS EXTERNAL DEBT FINANCIAL ASSISTANCE FINANCIAL SERVICES FOREIGN EXCHANGE RATES INTEREST RATES PRICE CONTROLS RULES AND REGULATIONS MONETARY SYSTEMS FINANCIAL RESOURCES Includes bibliography Abstract The Chilean experience with price-based capital account regulations (i.e., deposits or reserve requirements on capital inflows) has been subject to extensive discussion in the recent literature. This paper presents evidence on the effectiveness of similar regulations in Colombia since September 1993, when traditional exchange controls were replaced by price-based regulations. It is important to emphasize that the Tobin tax equivalent of such regulations in Colombia has been quite high (13.6% and 6.4% tax for 12 and 36 months loans, respectively, in 1994-1998), and, as in Chile, it is certainly much higher than the rates suggested for an international Tobin tax. The econometric evidence presented indicates that these regulations have been effective in Colombia, both in terms of reducing the volume of flows and in improving the term structure of external borrowing. This indicates that price-based regulations give the authorities some room for maneuver to adopt restrictive monetary policies during international capital market booms. They have also been effective in improving the debt profile of the country, a crucial determinant of macroeconomic risks in the face of busts in the international capital market. 2014-01-02T15:44:23Z 2014-01-02T15:44:23Z 1999-10 Texto Documento Completo 9211212456 https://hdl.handle.net/11362/5294 LC/L.1243-P en Serie Financiamiento del Desarrollo 87 41 páginas. application/pdf COLOMBIA COLOMBIA ECLAC
institution CEPAL
collection DSpace
country Chile
countrycode CL
component Bibliográfico
access En linea
databasecode dig-cepal
tag biblioteca
region America del Sur
libraryname Biblioteca Hernán Santa Cruz
language English
topic ASISTENCIA FINANCIERA
CONTROLES DE PRECIOS
DEUDA EXTERNA
MOVIMIENTOS DE CAPITAL
REGLAS Y NORMAS
SERVICIOS FINANCIEROS
TASAS DE INTERES
TIPOS DE CAMBIO
SISTEMAS MONETARIOS
RECURSOS FINANCIEROS
CAPITAL MOVEMENTS
EXTERNAL DEBT
FINANCIAL ASSISTANCE
FINANCIAL SERVICES
FOREIGN EXCHANGE RATES
INTEREST RATES
PRICE CONTROLS
RULES AND REGULATIONS
MONETARY SYSTEMS
FINANCIAL RESOURCES
ASISTENCIA FINANCIERA
CONTROLES DE PRECIOS
DEUDA EXTERNA
MOVIMIENTOS DE CAPITAL
REGLAS Y NORMAS
SERVICIOS FINANCIEROS
TASAS DE INTERES
TIPOS DE CAMBIO
SISTEMAS MONETARIOS
RECURSOS FINANCIEROS
CAPITAL MOVEMENTS
EXTERNAL DEBT
FINANCIAL ASSISTANCE
FINANCIAL SERVICES
FOREIGN EXCHANGE RATES
INTEREST RATES
PRICE CONTROLS
RULES AND REGULATIONS
MONETARY SYSTEMS
FINANCIAL RESOURCES
spellingShingle ASISTENCIA FINANCIERA
CONTROLES DE PRECIOS
DEUDA EXTERNA
MOVIMIENTOS DE CAPITAL
REGLAS Y NORMAS
SERVICIOS FINANCIEROS
TASAS DE INTERES
TIPOS DE CAMBIO
SISTEMAS MONETARIOS
RECURSOS FINANCIEROS
CAPITAL MOVEMENTS
EXTERNAL DEBT
FINANCIAL ASSISTANCE
FINANCIAL SERVICES
FOREIGN EXCHANGE RATES
INTEREST RATES
PRICE CONTROLS
RULES AND REGULATIONS
MONETARY SYSTEMS
FINANCIAL RESOURCES
ASISTENCIA FINANCIERA
CONTROLES DE PRECIOS
DEUDA EXTERNA
MOVIMIENTOS DE CAPITAL
REGLAS Y NORMAS
SERVICIOS FINANCIEROS
TASAS DE INTERES
TIPOS DE CAMBIO
SISTEMAS MONETARIOS
RECURSOS FINANCIEROS
CAPITAL MOVEMENTS
EXTERNAL DEBT
FINANCIAL ASSISTANCE
FINANCIAL SERVICES
FOREIGN EXCHANGE RATES
INTEREST RATES
PRICE CONTROLS
RULES AND REGULATIONS
MONETARY SYSTEMS
FINANCIAL RESOURCES
Ocampo, José Antonio
Tovar, Camilo Ernesto
Price-based capital account regulations: the Colombian experience
description Includes bibliography
author2 NU. CEPAL. Unidad de Financiamiento
author_facet NU. CEPAL. Unidad de Financiamiento
Ocampo, José Antonio
Tovar, Camilo Ernesto
format Texto
topic_facet ASISTENCIA FINANCIERA
CONTROLES DE PRECIOS
DEUDA EXTERNA
MOVIMIENTOS DE CAPITAL
REGLAS Y NORMAS
SERVICIOS FINANCIEROS
TASAS DE INTERES
TIPOS DE CAMBIO
SISTEMAS MONETARIOS
RECURSOS FINANCIEROS
CAPITAL MOVEMENTS
EXTERNAL DEBT
FINANCIAL ASSISTANCE
FINANCIAL SERVICES
FOREIGN EXCHANGE RATES
INTEREST RATES
PRICE CONTROLS
RULES AND REGULATIONS
MONETARY SYSTEMS
FINANCIAL RESOURCES
author Ocampo, José Antonio
Tovar, Camilo Ernesto
author_sort Ocampo, José Antonio
title Price-based capital account regulations: the Colombian experience
title_short Price-based capital account regulations: the Colombian experience
title_full Price-based capital account regulations: the Colombian experience
title_fullStr Price-based capital account regulations: the Colombian experience
title_full_unstemmed Price-based capital account regulations: the Colombian experience
title_sort price-based capital account regulations: the colombian experience
publisher ECLAC
publishDate 1999-10
url https://hdl.handle.net/11362/5294
work_keys_str_mv AT ocampojoseantonio pricebasedcapitalaccountregulationsthecolombianexperience
AT tovarcamiloernesto pricebasedcapitalaccountregulationsthecolombianexperience
_version_ 1756042607225470977

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