%0 Journal Article
%A Aguirre Carmona, Pablo
%A Alonso Rodríguez, José Antonio
%T What makes capital account regulation effective? Comparing the experiences of Brazil, Peru and Iceland
%D 2020
%@ 1946-326X
%U https://hdl.handle.net/20.500.14352/93295
%X Empirical studies confirm that the impact of capital account regulation (CAR) is highly case-specific, which underlines the need to identify the determinants of CAR effectiveness in greater depth. Coming from a political economy perspective, this article aims to contribute to this subject by comparing three experiences of intense regulation: Brazil (2008-2013), Peru (2008-2013), and Iceland (2008-2017). The main result encountered is that the bargaining power of the different sectors involved in regulation represents a crucial factor in explaining the impact of this policy. Furthermore, domestic banks play an important role in the effectiveness of capital account regulation
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