Fletcher in the News

Prof. Michael Klein's Paper on Controlling Capital Flows in The Wall Street Journal

Capital-Flow Controls Don't Significantly Affect Exchange Rates

Controlling capital flows into an economy either temporarily or over the longer run doesn't significantly affect exchange rates, a new paper released Thursday said.

Michael Klein, a professor of international economic affairs at Tufts University's Fletcher School, reviewed the effects of capital controls on economic growth and volatility, exchange rates and financial variables in 44 countries from 1995-2010.

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