Centro de Documentacion de Fundación MAPFRE - Temporary capital controls in a balance-of-payments crisis

MAP20070001787

Temporary capital controls in a balance-of-payments crisis / by Philippe Bachetta. — Barcelona : ESADE, 1989

24 p. ; 30 cm . — (Papers ESADE ; 27)

Sumario: The new directive on the liberalization of capital movements enacted recently by the European Community will remove all restrictions on international capital movements in a near future. This directive, however, contains a safeguard clause that permits a member state to use temporary controls in case of balance-of-payments difficulties. To consecuences of the use of temporary controls are little known, in particular if they are anticipated. This paper attempts to shed some light on this issue and analyzes the effect of anticipated temporary capital controls in a balance-of-payements crisis, using a model based on intertemporal optimization

DL B. 41.948-1989

1. Libre circulación de capitales . 2. Balanza de pagos . 3. Crisis económica . 4. Reserva de divisas . 5. Unión Europea . 6. Normativa comunitaria . I. Escuela Superior de Administración y Dirección de Empresas . II. Papers ESADE ; 27 . III. Título.