본문 내용으로 건더뛰기

KDI 경제정보센터

KDI 경제정보센터의 다양한
경제정책정보를 만나 보세요.

최신자료

Capital Controls and International Trade: An Industry Financial Vulnerability Perspective
IIE 2020.01.03 원문보기
Capital controls―or measures that governments take to restrict the amount of money that flows into and out of countries―pose significant challenges for firms that rely heavily on foreign financing to conduct business. This paper empirically evaluates effects of capital controls on trade across industries with varying levels of dependence on foreign capital. Mobilizing data on 99 countries from 1995 to 2014 across 27 industries, the authors find that industries more reliant on foreign capital tend to export much less in response to tightening of capital controls by exporting countries. Exports decline uniformly across all industries in response to tightening of capital controls by importing countries. The negative effects of capital controls on trade are less pronounced in countries with more advanced financial systems.
KDI 경제정보센터