MEDIDAS EXTENDIDAS DE RESTRICCIONES A LOS FLUJOS DE CAPITALES* EXTENDED MEASURES OF RESTRICTIONS TO CAPITAL ACCOUNT TRANSACTIONS

Resumen En este trabajo se extiende una medida De Jure (de acuerdo a derecho) de restricciones a los flujos de capitales, elaborada inicialmente por Miniane (2004) para 34 economias, a un grupo de 181 paises para el periodo 1996-2005. Asimismo, reconociendo las falencias de esta medida, se proponen dos nuevos indicadores. El primero excluye la regulacion prudencial, y el segundo pondera los indices por una proxy de la capacidad de hacer cumplir la normativa. El conjunto de estos indicadores permite a academicos y autoridades de politica analizar y evaluar las restricciones a los flujos de capitales para un amplio grupo de economias. Palabras clave: Integracion financiera internacional, controles de capitales. Abstract In this work we extend a De Jure measure of capital account restrictions, previously assembled by Miniane (2004) for 34 economies, to a set of 181 countries for the period 1996-2005. Additionally, having in mind the pitfalls of this indicator, we propose two new measures. The first excludes prudential regulation and the

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