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Capital Controls, or Controlled Capital Accounts, are a fundamental component of modern monetary policy. The IMF exists to surveil and assist countries in their management and/or transition of their capital account regimes.
Extensive research on this topic has been done by the world's top economists, at the the world's leading institutions...
Normalsynthesis 19:45, 5 May 2006 (UTC)
You get the impression from this article that opinion against capital controls began in the 1990s. Actually, most developed markets removed their own capital controls in the 1970s, after the controls they imposed earlier proved so damaging to their markets. Also, there is no widespread view today that capital controls are a good thing for developing markets. On the contrary, I strongly suspect that most economists would view them as detrimental, notwithstanding the 1997 Asian Crisis. Epstein's Mother 06:43, 8 July 2007 (UTC)
"hardcore liberal" --- an oxymoron. --- Dagme ( talk) 15:13, 22 June 2015 (UTC)
I think the confusion is that "capital controls" is being thought of as control over the out-flow of money. What has been recommended for developing economies is control over the in-flow, so that "hot" money has a more difficult time getting in, but legitimate investors don't worry about being able to get their money out. DOR (HK) ( talk) 06:06, 6 April 2009 (UTC)
Another point this article should cover is that capital controls are not nearly as prevalent as they used to be, notwithstanding the opening sentences. Capital controls used to be a vital part of the Bretton Woods post-war economic environment, since they were necessary to ensure that everyone's currency was linked to the dollar at a set rate, and the US dollar was linked to gold. Once currencies became free-floating with the end of the Bretton Woods system, the need for capital controls diminished and most major markets eliminated them by the 1980s. [[User:Epstein's Mother|]] ( talk) 17:51, 19 August 2009 (UTC)
This article needs examples of capital controls and the types of restrictions that governments typically put in place to restrict capital flows. Finnancier ( talk) 07:47, 2 February 2008 (UTC)
Quote: "* Nazi Germany attempted to prevent capital from leaving by imposing the Reichsfluchtsteur Reich Flight Tax or Escape Tax.[3]"
The Reichsfluchtsteuer was actually already put in place by the weimar republic in 1931, 2 years before the nazis came to power. It was applied the most to fleeing jews during the nazi period. BUt even after WWII it stayed in place in the bonner republic until 1953
It was said that IMF has a well classified items to measure the degree of freedom of capital mobility. It will be good to talk about it in the article. And, it will be nice to compare different countries' convertability. Capital account convertibility Jackzhp ( talk) 05:49, 12 March 2009 (UTC)
Someone (who doesn't bother signing in) keeps inserting an editorial piece arguing that US taxation law is an example of a capital control. I know you must be upset that you live abroad and Uncle Sam still wants your money, but the example you give is clearly not the type of capital control this article discusses. Make your argument here, if you like -- but these tax laws clearly do not prevent US citizens or companies from investing abroad, nor do they (very very clearly) prevent foreign investors from investing in the United States. The evidence against your argument can be measured in the trillions of dollars each year (and by the fact that the US dollar is fully convertible). [[User:Epstein's Mother|]] ( talk) 17:43, 19 August 2009 (UTC)
While the merger suggestion seemed reasonable, if there's no objection in the next few days I plan to remove the tages for this article and Capital Account Convertibility , as the tags have been in place for over a year, attracting as far as I can see no support and one opposition. I'll also probably be substantially expanding this article as there is a lot of interesting history to add and the recent re-appraisal of controls following the crises that would be good to capture. FeydHuxtable ( talk) 15:28, 20 May 2010 (UTC)
I assume the POV tag was for the clause Given the American world-wide monetary hegemony at that time as the rest of the sentence is matter of fact. I agree its POV and have removed it, can discuss more if required.
I also removed the following point that was tagged for needing a cite.
Im fairly sure that statement is no longer true post crisis. Deposits have recovered as a source of finance, e.g. with broker dealers like Merryl merging with BoA in part to take advantage of the latters deep deposit base. Also inter bank funding declined much more sharply than other sources of funding like rehypothecation and loans from non bank capital market players like hedge and money funds. If we are using Interbank market to mean forex trading that is misleading as in that sense its not generally a source of finance (more a source of revenue). And finally none of the various text books and papers ive read give this point as a disadvantage for capital controls.
This article argues that the monetary policy trilemma was important under the Bretton Woods system as a justification for capital controls ("The impossible trinity concept was especially influential during this era, as a justification for capital controls"). I find it hard to believe, as the idea was formulated in the late 1960s, when BW was collapsing. I cannot find a primary source that supports this. Hence, I tagged it as "citation needed." — Preceding unsigned comment added by Hariboa ( talk • contribs) 13:36, 26 January 2012 (UTC)
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Anti-free market and Pro-Interventionist Extreme ideological bias only citing low quality, not prestige sources only from their favors to interventionists such as Krugman Blog, Delong Blog and Just Stiglitz's saying More empirical research indicate that Capital Control do harm than good. Here, only cited Danni Rodrick but what about Kristin Forbes and many other real capital experts' research and IGM forum Economists consensus is "Capital control is bad" around 90% of them. It's so disgusting to see wikipedia's extreme bias on economics for their political purpose. They never cite and use research against their ideological bases. Shame! Big Shame! http://www.igmchicago.org/surveys/capital-outflows Shfur0306 ( talk) 06:06, 17 March 2020 (UTC)
![]() | This article is rated C-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||||||||||||
|
Capital Controls, or Controlled Capital Accounts, are a fundamental component of modern monetary policy. The IMF exists to surveil and assist countries in their management and/or transition of their capital account regimes.
Extensive research on this topic has been done by the world's top economists, at the the world's leading institutions...
Normalsynthesis 19:45, 5 May 2006 (UTC)
You get the impression from this article that opinion against capital controls began in the 1990s. Actually, most developed markets removed their own capital controls in the 1970s, after the controls they imposed earlier proved so damaging to their markets. Also, there is no widespread view today that capital controls are a good thing for developing markets. On the contrary, I strongly suspect that most economists would view them as detrimental, notwithstanding the 1997 Asian Crisis. Epstein's Mother 06:43, 8 July 2007 (UTC)
"hardcore liberal" --- an oxymoron. --- Dagme ( talk) 15:13, 22 June 2015 (UTC)
I think the confusion is that "capital controls" is being thought of as control over the out-flow of money. What has been recommended for developing economies is control over the in-flow, so that "hot" money has a more difficult time getting in, but legitimate investors don't worry about being able to get their money out. DOR (HK) ( talk) 06:06, 6 April 2009 (UTC)
Another point this article should cover is that capital controls are not nearly as prevalent as they used to be, notwithstanding the opening sentences. Capital controls used to be a vital part of the Bretton Woods post-war economic environment, since they were necessary to ensure that everyone's currency was linked to the dollar at a set rate, and the US dollar was linked to gold. Once currencies became free-floating with the end of the Bretton Woods system, the need for capital controls diminished and most major markets eliminated them by the 1980s. [[User:Epstein's Mother|]] ( talk) 17:51, 19 August 2009 (UTC)
This article needs examples of capital controls and the types of restrictions that governments typically put in place to restrict capital flows. Finnancier ( talk) 07:47, 2 February 2008 (UTC)
Quote: "* Nazi Germany attempted to prevent capital from leaving by imposing the Reichsfluchtsteur Reich Flight Tax or Escape Tax.[3]"
The Reichsfluchtsteuer was actually already put in place by the weimar republic in 1931, 2 years before the nazis came to power. It was applied the most to fleeing jews during the nazi period. BUt even after WWII it stayed in place in the bonner republic until 1953
It was said that IMF has a well classified items to measure the degree of freedom of capital mobility. It will be good to talk about it in the article. And, it will be nice to compare different countries' convertability. Capital account convertibility Jackzhp ( talk) 05:49, 12 March 2009 (UTC)
Someone (who doesn't bother signing in) keeps inserting an editorial piece arguing that US taxation law is an example of a capital control. I know you must be upset that you live abroad and Uncle Sam still wants your money, but the example you give is clearly not the type of capital control this article discusses. Make your argument here, if you like -- but these tax laws clearly do not prevent US citizens or companies from investing abroad, nor do they (very very clearly) prevent foreign investors from investing in the United States. The evidence against your argument can be measured in the trillions of dollars each year (and by the fact that the US dollar is fully convertible). [[User:Epstein's Mother|]] ( talk) 17:43, 19 August 2009 (UTC)
While the merger suggestion seemed reasonable, if there's no objection in the next few days I plan to remove the tages for this article and Capital Account Convertibility , as the tags have been in place for over a year, attracting as far as I can see no support and one opposition. I'll also probably be substantially expanding this article as there is a lot of interesting history to add and the recent re-appraisal of controls following the crises that would be good to capture. FeydHuxtable ( talk) 15:28, 20 May 2010 (UTC)
I assume the POV tag was for the clause Given the American world-wide monetary hegemony at that time as the rest of the sentence is matter of fact. I agree its POV and have removed it, can discuss more if required.
I also removed the following point that was tagged for needing a cite.
Im fairly sure that statement is no longer true post crisis. Deposits have recovered as a source of finance, e.g. with broker dealers like Merryl merging with BoA in part to take advantage of the latters deep deposit base. Also inter bank funding declined much more sharply than other sources of funding like rehypothecation and loans from non bank capital market players like hedge and money funds. If we are using Interbank market to mean forex trading that is misleading as in that sense its not generally a source of finance (more a source of revenue). And finally none of the various text books and papers ive read give this point as a disadvantage for capital controls.
This article argues that the monetary policy trilemma was important under the Bretton Woods system as a justification for capital controls ("The impossible trinity concept was especially influential during this era, as a justification for capital controls"). I find it hard to believe, as the idea was formulated in the late 1960s, when BW was collapsing. I cannot find a primary source that supports this. Hence, I tagged it as "citation needed." — Preceding unsigned comment added by Hariboa ( talk • contribs) 13:36, 26 January 2012 (UTC)
Hello fellow Wikipedians,
I have just modified 4 external links on Capital control. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:
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Cheers.— InternetArchiveBot ( Report bug) 16:57, 14 November 2016 (UTC)
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Anti-free market and Pro-Interventionist Extreme ideological bias only citing low quality, not prestige sources only from their favors to interventionists such as Krugman Blog, Delong Blog and Just Stiglitz's saying More empirical research indicate that Capital Control do harm than good. Here, only cited Danni Rodrick but what about Kristin Forbes and many other real capital experts' research and IGM forum Economists consensus is "Capital control is bad" around 90% of them. It's so disgusting to see wikipedia's extreme bias on economics for their political purpose. They never cite and use research against their ideological bases. Shame! Big Shame! http://www.igmchicago.org/surveys/capital-outflows Shfur0306 ( talk) 06:06, 17 March 2020 (UTC)