Abstract
The purpose of this chapter is to compare the effect of restrictions on international capital flows in Argentina, Chile and Uruguay. These three countries are interesting cases because they have varied the intensity of their capital controls during the 1970s and 1980s as part of their effort to apply a liberalisation scheme covering all sectors and to achieve a more efficient allocation of resources. These countries have on the whole imposed capital controls not just to protect official foreign reserves but also to offset the scope for profitable arbitrage created by financial repression.
I would like to thank David Blake, Alan Winters and Alec Chrystal for their helpful comments, Raoul Carrasco for providing information on Chile and Carmen Li for her able research assistance. Financial support from the Bank of Credit and Commerce International is also gratefully acknowledged.
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© 1990 Kate Phylaktis and Mahmood Pradhan
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Phylaktis, K. (1990). Capital Controls in Argentina, Chile and Uruguay. In: Phylaktis, K., Pradhan, M. (eds) International Finance and the Less Developed Countries. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10379-9_6
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