Seminario: "Capital Controls and the Cost of Debt"

Autor(es): Patricio Valenzuela (Ing.UCH), Eugenia Andreasen (USACH) y Martin Schindler (IFM). Presenta: Patricio Valenzuela Lugar y hora: Miércoles 24 de mayo de 2017, 13:00 hrs. Sala P 301, Edificio Placa (Diagonal Paraguay 257)
Using a panel data set for international corporate bonds and capital account restrictions in advanced and emerging economies, we show that restrictions on capital inflows produce a substantial and economically meaningful increase in corporate bond spreads. A number of heterogeneities suggest that the effect of capital controls on inflows is particularly strong for more financially constrained firms, establishing a novel channel through which capital controls affect economic outcomes. By contrast, we do not find a robust significant effect of restrictions on outflows.

Datos del Evento

Fecha de inicio:
24 de Mayo, 2017 | 13:00 hrs.

Fecha de término
24 de Mayo, 2017 | 14:00 hrs.