Capital Account Liberalization : Theoretical and Practical Aspects

Author/Editor:

Michael Mussa ; Giovanni Dell'Ariccia ; Barry J. Eichengreen ; Enrica Detragiache

Publication Date:

September 30, 1998

Summary:

Capital account liberalization - orderly, properly sequence, and befitting the individual circumstances of countries- is an inevitable step for all countries wishing to realize the benefits of the globalized economy. This paper reviews the theories behind capital account liberalization and examines the dangers associated with free capital flows. The authors conclude that the dangers can be limited through a combination of sound macroeconomic and prudential policies.

Series:

Occasional Paper No. 172

English

Publication Date:

September 30, 1998

ISBN/ISSN:

9781557757777/0251-6365

Stock No:

S172EA0000000

Format:

Paper

Pages:

72

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