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A very large variety of controls are used by developing countries to restrict and regulate the movement of capital which allows agents to reap the advantages of diversification of assets in the financial and real sectors. This article discusses in brief the classification of controls like, dual (two-tier) or multiple exchange rate systems. Explicit taxation of cross-border flows, Indirect taxation of cross-border flows, in the form of non-interest bearing compulsory reserve/deposit requirements and other regulatory controls and then carries out a comparative analysis of these controls in the countries. We also discuss when and What Type of Controls are Effective, Crises, and the Lessons from Experience of countries like Thailand India and Malaysia.
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