Capital Account Convertibility: Review of Experience and Implications for IMF Policies

October 6, 1995

Summary

The paper summarizes the main issues arising from experiences of industrial and developing countries with capital account liberalization and it examines the IMF's treatment of capital controls in its surveillance, use of IMF resources, and technical assistance activities. Case studies of recent experiences with capital controls in Chile, Colombia, Malaysia, and Venezuela are presented.

Subject: Balance of payments, Capital account, Capital account liberalization, Capital controls, Capital flows, Capital outflows

Keywords: Australia and New Zealand, Baltics, capital, Capital account, capital account issue, Capital account liberalization, capital account restriction, capital control structures, Capital controls, Capital flows, Capital outflows, capital transaction, Central and Eastern Europe, control, country, Eastern Europe, Global, IMF treatment, liberalization, OP, Southeast Asia, Western Hemisphere

Pages:
56
Volume:
1995
DOI:
---
Issue:
013
Series:
Occasional Paper No. 1995/013
Stock No:
S131EA0000000
ISBN:
9781557755247
ISSN:
0251-6365

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Notes

Prepared by staff team headed by Peter J. Quirk and Owen Evans and comprising Przemyslaw Gajdeczka, Vicente Galbis, Arto Kovanen, Alexander Kyei, Dmitri Menchikov, Roger Nord, Mark O'Brien, Laura Papi, Susana Crossa de Sosa, S. Kal Wajid, Takashi Yoshimura.

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Occasional Papers