F32 - Current Account Adjustment; Short-Term Capital Movements

• Foreign Flows and Their Effects on Government of Canada Yields

  Staff Analytical Note 2015-1 Bruno Feunou, Jean-Sébastien Fontaine, James Kyeong, Jesus Sierra

  Foreign investment flows into Government of Canada (GoC) bonds have surged since the financial crisis. Our empirical analysis suggests that foreign flows of $150 billion lowered the 10-year GoC bond yield by 100 basis points between 2009 and 2012.

  Content Type(s): Staff research, Staff analytical notes Topic(s): International financial markets, International topics, Monetary policy transmission JEL Code(s): F, F3, F32

• Domestic and Multilateral Effects of Capital Controls in Emerging Markets

  Staff Working Paper 2015-37 Gurnain Pasricha, Matteo Falagiarda, Martin Bijsterbosch, Joshua Aizenman

  Using a novel data set on capital control actions in 17 emerging-market economies (EMEs) over the period 2001–11, we provide new evidence on domestic and multilateral (or spillover) effects of capital controls.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial system regulation and policies, International financial markets, International topics, Monetary policy framework JEL Code(s): F, F3, F32, F4, F41, F42, G, G1, G15

• Motivations for Capital Controls and Their Effectiveness

  Staff Working Paper 2015-5 Radhika Pandey, Gurnain Pasricha, Ila Patnaik, Ajay Shah

  We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and long-standing controls. We focus on the controls on foreign borrowing that can, in principle, be motivated by macroprudential concerns.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rate regimes, Financial stability, Financial system regulation and policies, International topics JEL Code(s): F, F3, F32, G, G1, G15, G18