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《Journal of Finance and Economics》 2009-06
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Dynamic Study on the Effectiveness of Capital Control in China from 1982 to 2008

XU Ming-dong1,XIE Xue-cheng2(1.Institute for Financial Studies, Fudan University, Shanghai 200433,China;2. Center for R&D, Southwest Securities Company,LTD., Beijing 100032, China)  
Based on saving-investment correlation method, Edwards-Kahn model, the measurement of capital control level and covered interest rate parity theory, the paper analyzes the effectiveness of capital control in China from 1982 to 2008 from the perspectives of real economy, monetary economy, legal framework and short-term arbitrage motivation. It explores that capital control policies in China has been basically effective since 1982 and the effectiveness of capital control is declining with the opening-up of domestic economy and control policies, and the higher capital liquidity. Although there exist a short-term boom of capital flow since 2007, capital control in China still significantly restraints international capital flow.
【CateGory Index】: F832.5;F224
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【Citations】
Chinese Journal Full-text Database 1 Hits
1 He Dexu~a,Yao Zhanqi~b and Yu Shengguo~c(a,b: Institute of Finance and Trade Economics,CASS;c: School of Economics and Management, Hainan University);Capital Mobility in China and Other Newly Industrializing Countries in Asia[J];Economic Research Journal;2006-09
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 Liu Hua Lu Kongbiao (Haikou Central Sub-Branch of the People's Bank of China,Haikou,570105 China);Term Mismatch of China's Foreign Capital Inflow:Current Situation,Influence and Countermeasures[J];South China Finance;2008-02
2 Tao Chuan (School of Economics,Fudan University,Shanghai,200433 China);Hot Money Inflow with the Expectations of RMB and Asset Appreciation——An Empirical Study based on the Theory of Adaptive Expectations[J];South China Finance;2008-07
3 ZHAN Jia~1,GAO Jing-mei~2 (1.Dalian Shide Group,Dalian 116011;Northeast University of Finance and Economy,Dalian 116025);RESEARCH ON THE INFLUENCE OF CAPITAL INFLOWS ON HOME WELFARE[J];Northern Economy and Trade;2006-12
4 Li Youhuan (Industrial Economics Research Institute,Guangdong Academy of Social Science,Guangzhou,Guangdong,510610);On Three Central Issues Arising from Inflow of Overseas Hot Money to China[J];Journal of Guangdong Peizheng College;2007-04
5 LI Zeguang1,FU fei2 ,TANG Weixia1(1Department of Finance,Nankai University,Tianjin 300071, China;2Liaocheng Branch, DABC, Liaocheng 252100, China);An Analysis of Variability and Economic Effects of Capital Flow[J];The Study of Finance and Economics;2003-12
6 Feng Cai;The factors influencing short-term international capital flow in China——An empirical study based on the data of 1994-2007[J];Finance & Economics;2008-06
7 The Study Group, Jiangsu Branch, ICBC;Financial Resource Allocation and Adjustment of Industrious Structure——The Status Quo of Jiangsu Manufacturing and ICBC's Operating Strategies[J];Finance Forum;2008-10
8 HUANG Wei-hua(School of Business Administration,Zhejiang University of Finance and Economics,Hangzhou 310018,China);The Economic Impact of International Fluid Capital Inflow and Strategies[J];Collected Essays on Finance and Economics;2009-03
9 CHEN Lang-nan CHEN Yun Sun Yat-sen University,Guangzhou,Guangdong,510275,China;RMB Mominai Exchange Rate,Asset price and Short-term International Capital Flows[J];Economic Management Journal;2009-01
10 Liu Renwu Liu Hua Huang Lijian;International Capital Flows and Twin Crises Model in Emerging Market Country[J];Journal of Financial Research;2008-04
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1 ;An Analysis of the Validity of Capital Control Policy in China 1982-2005[A];[C];2006
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