一、主講人：苟琴，bevictor伟德官网副教授。2014年在北京大學獲經濟學博士學位；2009年在南開大學獲經濟學學士學位；2011年至2012年在美國紐約大學訪問。主要研究領域包括國際金融、宏觀經濟、實證銀行經濟等。曾在China Economic Review、European Journal of Finance、《管理世界》《世界經濟》《金融研究》等期刊發表10餘篇學術論文。曾獲得澳大利亞中國經濟學會（CESA）最佳論文、《金融研究》優秀論文、中國新興經濟體研究會優秀論文等學術獎項。曾多次參加國内外高水平學術會議。主持國家自然科學基金青年項目等課題。  

二、講座時間：2019年10月21日星期一，下午13：00-14：30

三、講座地點：沙河校區丁香園1号樓301會議室

四、主持人：黃志剛，bevictor伟德官网教授

Abstract:

This paper aims to explicitly investigate themultilateral effects of capital controls on capital flows and the financialvulnerabilities in emerging market economies. We build a tractablemultinational equilibrium model to explore the mechanism of the spillovereffect of capital control on capital flow and capital price co-movement. Usinga comprehensive portfolio allocation dataset of EFPR and a newly constructedhigh frequency similarity-weighted average capital control index of othercountries (SWACC), this paper then empirically tests the theoreticalpropositions. We find that SWACC is positively associated with the globalfund's portfolio weight allocated to a country, the total portfolio flows intothis country, and the capital price co-movement between this country andadvanced capital markets. Further analysis shows that these impacts are morepronounced for capital inflow control, and in extreme circumstance when thecapital flow is extremely high or low. Our results are robust to a variety ofalternative measures, regression design and methods.