The DOI matches its Crossref record; 21 of the 21 references it cites were found in a registry or an index.
A New Measure of Financial Openness
Open accessAbstract
We create a new index that measures the extent of openness in capital account transactions. Despite the abundance of literature and policy analyses regarding the effect of financial liberalization, the debate is far from settled. One of the reasons for that outcome is the lack of proper ways of measuring the extent of the openness in cross-border financial transactions. We seek to remedy this deficiency by creating an index aimed at measuring the extensity of capital controls based on the information from the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER). This paper details how we construct the data and where our index stands in relation to the extant literature. Given the intricacy of capital controls policies and regulations, the exercise of quantifying the extent of financial openness remains a challenging task. Nonetheless, our index makes a substantial contribution in terms of its coverage of countries and time period; the data are available for 181 countries for the 1970–2005 period.
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Cites
What matters for financial development? Capital controls, institutions, and interactions
Chinn, M. D., & Ito, H. (2006) · Journal of Development Economics · doi:10.1016/j.jdeveco.2005.05.010 · Cited by 2,650
Self-citationThe Correlates of Change in International Financial Regulation
Quinn, D. (1997) · American Political Science Review · doi:10.2307/2952073 · Cited by 1,397
Financial Globalization: A Reappraisal
Kose, M. A., Prasad, E., Rogoff, K., & Wei, S.-J. (2006) · National Bureau of Economic Research · doi:10.3386/w12484 · Cited by 927
Lane, P. R., & Milesi‐Ferretti, G. M. (2006) · SSRN Electronic Journal · doi:10.2139/ssrn.923766 · Cited by 859
Capital account liberalization, financial depth, and economic growth
Klein, M. W., & Olivei, G. P. (2008) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2008.05.002 · Cited by 711
Capital Account Liberalization: What Do Cross-Country Studies Tell Us?
Eichengreen, B. (2001) · The World Bank Economic Review · doi:10.1093/wber/15.3.341 · Cited by 708
How Effective are Capital Controls?
Edwards, S. (1999) · The Journal of Economic Perspectives · doi:10.1257/jep.13.4.65 · Cited by 530
Economic Effects and Structural Determinants of Capital Controls
Grilli, V., & Milesi-Ferretti, G. M. (1995) · Staff Papers - International Monetary Fund · doi:10.2307/3867531 · Cited by 505
A simple measure of the intensity of capital controls
Edison, H. J., & Warnock, F. E. (2003) · Journal of Empirical Finance · doi:10.1016/s0927-5398(02)00055-5 · Cited by 459
Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization
Kaminsky, G., & Schmukler, S. (2003) · National Bureau of Economic Research · doi:10.3386/w9787 · Cited by 346
Cited by
When Fast-Growing Economies Slow Down: International Evidence and Implications for China
Eichengreen, B., Park, D., & Shin, K. (2012) · Asian Economic Papers · doi:10.1162/asep_a_00118 · Cited by 708
Naturally negative: The growth effects of natural disasters
Felbermayr, G., & Gröschl, J. (2014) · Journal of Development Economics · doi:10.1016/j.jdeveco.2014.07.004 · Cited by 566
Capital Flows to Developing Countries: The Allocation Puzzle
Gourinchas, P.-O., & Jeanne, O. (2013) · The Review of Economic Studies · doi:10.1093/restud/rdt004 · Cited by 502
Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?
Ilzetzki, E., & Vegh, C. (2008) · National Bureau of Economic Research · doi:10.3386/w14191 · Cited by 476
Eichengreen, B., & Gupta, P. (2015) · Emerging Markets Review · doi:10.1016/j.ememar.2015.07.002 · Cited by 259
Metadata
- Authors
- Chinn, M. D., & Ito, H.
- Venue
- Journal of Comparative Policy Analysis: Research and Practice
- Publisher
- Informa UK Limited
- Published
- 2008-09
- Volume
- 10
- Issue
- 3
- Pages
- 309-322
- ISSN
- 1387-6988 (ISSN-L)
- 1572-5448
- OpenAlex
- W2078140895
- Cited by
- 2,043
- References
- 21
- FWCI
- 184.88
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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