Capital Account Liberalization and Economic Performance: Survey and Synthesis
IMF Working Papers, July 1, 2002
Source details
- Canonical URL
- Capital Account Liberalization and Economic Performance: Survey and Synthesis
Other formats
Bibliographic details
- Authors: Torsten M Sloek, Michael W Klein, Luca A Ricci, Hali J Edison
- Published: July 1, 2002
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451854282.001
Overview
- Paper reviews and discusses issues involved in assessing the relationship between capital account liberalization and economic performance.
- Three core components:
- Discussion of the different measures of restrictions used in the literature.
- Review of the literature on the relationship between growth and capital account liberalization.
- Identification and explanation of differences in results across studies and provision of some support for a positive effect of capital account liberalization on growth, especially for developing countries.
Key findings and conclusions
- The paper provides a survey of measures used to quantify capital account restrictions and openness.
- The literature review synthesizes evidence on the relationship between capital account liberalization and economic growth.
- The authors identify sources of heterogeneity across empirical studies that help explain differing results.
- The paper offers some support for a positive effect of capital account liberalization on growth, with emphasis on effects for developing countries.
Subjects and keywords
- Subject: Capital account, Capital account liberalization, Capital controls, Capital flows, Stock markets
- Keywords: capital account control account, capital account openness, OECD country, WP
Content in this bundle
- Capital Account Liberalization and Economic Performance: Survey and Syntesis - WP/02/120