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Journals / BDDK Bankacılık ve Finansal Piyasalar Dergisi / 2016 / Cilt: 10 - Sayı: 2

The Effectiveness of Financial Liberalization Policies: The Experiences of Some Emerging Market Economies

Finansal Serbestleşme Politikalarının Etkinliği: Yeni Gelişen Piyasa Ekonomilerinden Bazı Deneyimler

Harun BAL
Emrah Eray AKÇA
Ömer DEMİR
Pages
63–85
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The overall results suggest that capital controls is not fully achieving the desired objectives for the countries in question.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:In this study, the effectiveness of capital controls implemented in some emerging market economies during 2006Q1-2012Q4 period is investigated by the event study approach.
📊
Key Findings & Data:According to the findings obtained by the event study approach, capital controls do not curb net capital inflows in all cases.
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Conclusion & Impact:The overall results suggest that capital controls is not fully achieving the desired objectives for the countries in question.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

In this study, the effectiveness of capital controls implemented in some emerging market economies during 2006Q1-2012Q4 period is investigated by the event study approach. According to the findings obtained by the event study approach, capital controls do not curb net capital inflows in all cases. The overall results suggest that capital controls is not fully achieving the desired objectives for the countries in question. For an effective capital controls policy, it is recommended that the responses of global market agents to the capital controls should be estimated correctly and the capital controls should be well-designed and implemented carefully on this basis.

Özet

Bu çalışmada, bazı yeni gelişen piyasa ekonomilerinin 2006Q1-2012Q4 dönemi kapsamında uyguladıkları sermaye kontrollerinin etkinliği olay inceleme yaklaşımı ile incelenmektedir. Analiz sonucu elde edilen bulgular, bütün ülkeler için sermaye kontrollerinin net sermaye girişlerini azaltamadığını ortaya koymaktadır. Genel sonuçlar, ilgili ülkelerin uyguladıkları sermaye kontrollerinin istenilen amaca ulaşmada tam olarak başarılı olamadığını göstermektedir. Etkin bir sermaye kontrolleri politikası için, küresel piyasa ajanlarının uygulanan kontrollere verecekleri tepkinin doğru tahmin edilebilmesi ve bu temelde sermaye kontrollerinin iyi tasarlanması ve dikkatlice uygulanması önerilmektedir.

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Cite This Article

BAL, H., AKÇA, E. E., DEMİR, Ö. (2016). The Effectiveness of Financial Liberalization Policies: The Experiences of Some Emerging Market Economies. BDDK Bankacılık ve Finansal Piyasalar Dergisi, Cilt: 10 - Sayı: 2, 63–85. https://ajindex.com/articles/143150

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