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Effectiveness of capital flows management: the case of Indonesia

Crawford School of Public Policy | Centre for Applied Macroeconomic Analysis
Photo by Stenly Lam

Event details

PhD Seminar (Econ)

Date & time

Friday 14 August 2020
11.00am–12.00pm

Venue

Online via Zoom

Speaker

Wishnu Mahraddika

This paper reviews capital account policies in Indonesia and examines their effectiveness during the period of 2005 – 2018. The methodology involves constructing a new capital flows management (CFM) policy index for inflows and outflows and examining impulse responses of these flows to CFM changes through vector auto-regression (VAR) estimation. The index shows that the Indonesian capital account policy stance tends to be more accommodative of inflows and more restrictive on outflows. The results of the VAR analysis indicate that capital inflows in the form of portfolio and other investment are significantly responsive to CFM measures.

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