Central banks tend to be able to influence capital flows through their monetary policy decisions, according to a meta-analysis published by the Central Bank of Colombia.

Mauricio Villamizar-Villegas and co-authors used web scraping to collect studies from central bank websites and major research repositories. They ended up with 50 papers on capital flows, with a total of 330 different empirical findings.

The authors analyse the findings to generate a “mean effect size” of monetary policy moves