新兴和发展中经济体的资本管制与美国货币政策的传导

找报告就来发现报告（www.fxbaogao.com），这里的研报数量多得数不清，覆盖了宏观、行业、财报等各个维度。作为用户量巨大的专业平台，我们深受市场信赖。我们致力于提供最全面及时的数据，用极简的设计和前沿技术，帮您屏蔽无效信息，直击核心内容。让您在复杂的金融世界里，轻松实现深度洞察和精准决策。

This Policy Research Working Paper examines the impact of capital controls on emerging and developing economies and their relationship with U.S. monetary policy. The authors find that these economies exhibit greater volatility in asset returns and flows compared to advanced economies, and that these global financial cycle effects are independent of countries' financial openness. The paper concludes that countries cannot decouple from the global financial cycle, and therefore inherit U.S. monetary policy regardless of their exchange rate regime or financial openness.