Often, foreign exchange controls can result in the creation of black markets to exchange the weaker currency for stronger currencies. This leads to a situation where the exchange rate for the foreign currency is much higher than the rate set by the government, and therefore creates a shadow currency exchange market. As such, it is unclear whether governments have the ability to enact effective exchange controls.[1]
Context: Booneland changed their foreign exchange controls and Bradland didn't. The foreign currency got more expensive and they had problems with a shadow currency exchange. Bradland people were more cautious and less inclined to take risks, but didn't have those problems.
Question: Which country had people that were more inclined to take risks?