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Liberalizing Capital Movements:Some Analytical Issues

Author/Editor: Eichengreen, Barry J. | Mussa, Michael | Dell'Ariccia, Giovanni | Detragiache, Enrica | Milesi-Ferretti, Gian Maria | Tweedie, A. J.
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Summary: This paper addresses the potential gains and risks of open capital markets by first looking at what classical economic theory suggests about the benefits of capital mobility and then examining the counterarguments arising from problems of incomplete information and other distortions. It shows that the risks of removing controls on flows of capital across national borders are similar to those associated with removing controls on domestic financial institutions. The paper then explores how to manage liberalization to minimize the risks and maximize the benefits.
Series: Economic Issues No. 17
Subject(s): Capital flows
    Published:   August 4, 2000        
    ISBN/ISSN:   ISBN 1-55775-895-6 ; ISSN 1020-8402   Format:   Paper
    Stock No:   EIIZA0171996        
    Price:   Free        
    Published:   March 16, 1999        
    ISBN/ISSN:   ISBN 1-55775-792-5 ; ISSN 1020-5098   Format:   Paper
    Stock No:   EIIEA0171996   Pages:   19
    Price:   Free        
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