Capital Controls and Exchange Rate Instability in Developing Economies

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Financial Openness and Productivity (2009, background): “Second, some new micro level studies, Gupta and Yuan (2009) at the industry level and Mitton (2006) at the firm level, confirm the positive growth effects of stock market liberalization and find them to be stronger than in Bekaert, Harvey, and Lundblad (2005).”
Sovereign Debt Crises and Credit to the Private Sector (2006, background): “In addition, as Helpman (2006) points out, firms that export only export a small fraction of their output, and, therefore are also likely to be affected by a decline in domestic aggregate demand.”
Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows (2009, background): “Most studies in this area have focused on the effect of capital controls on exchange rate stability and currency crises (e.g., Glick and Hutchison, 2005; and Glick, Guo and Hutchison, 2006), financial stability and policy autonomy (e.g., Edison and Reinhart, 2001) and domestic investment (e.g. Mody…”