Liberalization of the Capital Account: Experiences and Issues
March 15, 1993
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This study explores the industrial and developing countries use of capital controls since World War II, including their rationales for using them, and describes their experiences with relaxing controls as part of broader liberalization and structural reform efforts. The papers also outlines the potential medium-term costs and benefits of an open capital account and the policy measures that would help sustain capital account convertibility.
Subject: Balance of payments, Capital account, Capital account convertibility, Capital controls, Capital flows, Foreign exchange, Real exchange rates
Keywords: Africa, appendix capital flight, Asia and Pacific, capital, Capital account, Capital account convertibility, capital account transactions, Capital controls, Capital flows, capital transaction, Caribbean, control, deficit variable, domestic assets, Europe, exchange arrangement, exchange rate volatility, expropriation risk, financial market condition, Global, interest rate differential, OP, Real exchange rates, risk variable, Western Europe
Pages:
44
Volume:
1993
DOI:
Issue:
005
Series:
Occasional Paper No. 1993/005
Stock No:
S103EA0000000
ISBN:
9781557752802
ISSN:
0251-6365
