Capital Account Liberalization and Economic Performance: Survey and Synthesis

ByTorsten M Sloek, Michael W Klein, Luca A Ricci, Hali J Edison

July 1, 2002

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews and discusses issues involved in assessing the relationship between capital account liberalization and economic performance. First, it discusses the different measures of restrictions used in the literature. Second, it reviews the literature on the relationship between growth and capital account liberalization. Finally, it identifies and explains some of the differences in the results of the various studies and provides some support for a positive effect of capital account liberalization on growth, especially for developing countries.

Subject: Capital account, Capital account liberalization, Capital controls, Capital flows, Stock markets

Keywords: capital account control account, capital account openness, OECD country, WP

Pages:
39
Volume:
2002
DOI:
https://doi.org/10.5089/9781451854282.001
Issue:
120
Series:
Working Paper No. 2002/120
Stock No:
WPIEA1202002
ISBN:
9781451854282
ISSN:
1018-5941

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