# Capital controls

`kaal:entity:capital-controls`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `capital-controls`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2019 to 2022.

**2019**

- [3396522-035](https://wulfkaal.github.io/claims/3396522-035) [predictive/speculative] -- Because stable cryptocurrencies are free of the real world pressures that constrain emerging market currencies, they may be able to experiment with solutions that overcome the currency trilemma, attaining a fixed exchange rate, free capital movement, and an independent monetary policy at once.
  > lack of real-world pressures that afflict emerging market currencies may enable stable cryptocurrency projects to experiment with solutions that can help overcome the trilemma.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

**2022**

- [4033886-011](https://wulfkaal.github.io/claims/4033886-011) [mechanism/argued] *(failure mode)* -- Cross exchange price gaps in crypto do not self correct because of frictions on the arbitrageur side: South Korean investors faced foreign exchange conversion costs and regulatory capital controls that made exploiting the Bithumb premium impractical.
  > It is unlikely any South Korean investor was able to take advantage of this opportunity because of the hurdles they would have to go through before being able to access the US exchange Coinbase.
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/capital-controls.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.