23
Index of restrictions on payments for capital transactions and separate exchange rate(s)for some or all capital transactions and/or some
or all invisibles: If both restrictions are in place, the index takes the value 2, if one restriction is in place the index takes the value of 1,
and 0 otherwise.
|
CONTROL 3 |
AUS |
BEL |
DEN |
FIN |
FRA |
GER |
ITA |
NET |
SPA |
SWE |
UK |
TOTAL |
|
1973_________ |
_____1 |
_____1 |
_____1 |
______1 |
________2 |
_____0 |
________2 |
_______2 |
______1 |
____1 |
______2 |
______14 |
|
1974________ |
_____1 |
_____1 |
_____1 |
______1 |
________2 |
_____0 |
________2 |
_______2 |
______1 |
____1 |
______2 |
______14 |
|
1975_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
_____1 |
______1 |
____1 |
______2 |
______12 |
|
1976_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
_____1 |
______1 |
____1 |
______2 |
______12 |
|
1977________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
_____1 |
______1 |
____1 |
______2 |
______12 |
|
1978_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
_____1 |
______1 |
____1 |
______2 |
______11 |
|
1979_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
____0 |
______1 |
____1 |
____1 |
______10 |
|
1980_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
____0 |
______1 |
____1 |
____0 |
____9 |
|
1981_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
____0 |
______1 |
____1 |
____0 |
____9 |
|
1982_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
________2 |
____0 |
______1 |
____1 |
____0 |
____9 |
|
1983_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____8 |
|
1984________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
_____0 |
____0 |
______1 |
____1 |
____0 |
____7 |
|
1985_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
_____0 |
____0 |
______1 |
____1 |
____0 |
____7 |
|
1986_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
_____0 |
____0 |
______1 |
____1 |
____0 |
____7 |
|
1987________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____8 |
|
1988_________ |
_____1 |
_____1 |
_____1 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____8 |
|
1989_________ |
_____1 |
_____1 |
____0 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____7 |
|
1990_________ |
_____1 |
_____1 |
____0 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____7 |
|
1991_________ |
_____1 |
____0 |
____0 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____6 |
|
1992_________ |
_______0 |
____0 |
____0 |
_____0 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____4 |
|
1993_________ |
____0 |
____0 |
____0 |
______1 |
______1 |
_____0 |
______1 |
____0 |
______1 |
____1 |
____0 |
____5 |
|
TOTAL |
19 |
18 |
16 |
20 |
23 |
о |
28 |
8 |
21 |
21 |
13 |
Source: authors’ own calculation.
Intensity of capital controls = 0.12 - 0.06 Control 1
R2 = 0.23
R2 = -0.11
R2 = 0.36
(0.50) (0.03)
Intensity of capital controls = -0.71 - 0.008 Control 2
(0.37) (0.06)
Intensity of capital controls = 0.67 - 0.08* Control 3
(0.59) (0.03)