A Summary of the experiences of Chile and Colombia with unremunerated reserve requirements on capital flows during the 1990s
- SantiagoCL UN ECLAC 2009
- 41 p.
Reviews the experiences of Chile and Colombia with unremunerated reserve requirements (URRs) on capital flows during the 1990s. Gives a brief description of the URR mechanism, and reviews the rationale and objectives behind its use; the context upon which these controls were implemented in the two countries and the details on how they worked. Reviews the available literature in order to assess whether the objectives were fulfilled. Presents some brief conclusions.