Advanced Country Experiences With Capital Account Liberalization
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Advanced Country Experiences With Capital Account Liberalization
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Author : Age Bakker
language : en
Publisher: International Monetary Fund
Release Date : 2002-09-26
Advanced Country Experiences With Capital Account Liberalization written by Age Bakker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-26 with Business & Economics categories.
After the industrial countries established current account convertibility in the late1950s, they began to phase out their capital controls. Their efforts were slow and tentative at first, but built up considerable momentum by the 1980s as market-oriented economic policies gained popularity. This paper describes how national policymakers’ views of capital controls shifted over time, and how these controls have been closely related to regulation in other policy areas, such as banking and financial markets. As developing countries seek to liberalize their capital accounts to obtain the benefits of increased integration with the global economy, what lessons can be drawn from industrial countries’ diverse experiences with capital controls, and how can a country’s liberalization measures be sequenced to minimize disturbances to its exchange rate and monetary policies?
Capital Liberalization In Transition Countries
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Author : Age Bakker
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003-01-01
Capital Liberalization In Transition Countries written by Age Bakker and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Business & Economics categories.
'This collection provides an excellent account of the diverging ways countries in varying parts of the world went about liberalizing capital flows. Case studies of transition countries are set against the background of more general studies analysing the Asian and Latin American experience, as well as the earlier liberalization processes in economically advanced countries. The reader gets a lively picture of the many pitfalls that beset the road to full capital liberalization and will realise that there is no single best way to liberalize. The authors strike one as unprejudiced and far from dogmatic, out to learn from experience rather than trying to impose some particular point of view.' - Hans Visser, Vrije Universiteit, Amsterdam, The Netherlands This significant new book provides a succinct overview of the essential policy issues surrounding capital liberalization. The book compares the experiences of transition economies in Europe with those of advanced nations, allowing the reader to examine the changing international economic and financial environment within which transition countries have to liberalize.
Liberalization Of The Capital Account
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Author : Mr.Donald J. Mathieson
language : en
Publisher: International Monetary Fund
Release Date : 1992-06-01
Liberalization Of The Capital Account written by Mr.Donald J. Mathieson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-06-01 with Business & Economics categories.
This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that could help sustain capital account convertibility. As the effectiveness of capital controls eroded more rapidly in the 1980s than in earlier periods, new constraints were placed on the formulation of stabilization and structural reform programs. However, experience suggests that certain macroeconomic, financial, and risk management policies would allow countries to attain the benefits of capital account convertibility and reduce the financial risks created by an open capital account.
Capital Controls
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Author : Ms.Inci Ötker
language : en
Publisher: International Monetary Fund
Release Date : 2000-05-17
Capital Controls written by Ms.Inci Ötker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-05-17 with Business & Economics categories.
This paper examines country experiences with the use and liberalization of capital controls to develop a deeper understanding of the role of capital controls in coping with volatile capital flows, as well as the issues surrounding their liberalization. Detailed analyses of country cases aim to shed light on the motivations to limit capital flows; the role the controls may have played in coping with particular situations, including in financial crises and in limiting short-term inflows; the nature and design of the controls; and their effectivenes and potential costs. The paper also examines the link between prudential policies and capital controls and illstrates the ways in which better prudential practices and accelerated financial reforms could address the risks in cross-border capital transactions.
Do Inflows Or Outflows Dominate Global Implications Of Capital Account Liberalization In China
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 2013-08-28
Do Inflows Or Outflows Dominate Global Implications Of Capital Account Liberalization In China written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-28 with Business & Economics categories.
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in- and outflows, but the direction of net flows has depended on many factors. An econometric portfolio allocation model finds that capital controls significantly dampen cross-border portfolio asset holdings. The model also suggests that capital account liberalization in China may trigger net portfolio outflows as large domestic savings seek to diversify abroad.
Capital Account Liberalization And Financial Sector Stability
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Author : Friedrich Ivan Schneider
language : en
Publisher:
Release Date : 2002
Capital Account Liberalization And Financial Sector Stability written by Friedrich Ivan Schneider and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and banking categories.
This paper analyses the links between capital account liberalisation and other policies influencing financial sector stability. Drawing on country experiences, it develops an operational framework for the co-ordination of capital account liberalisation, particularly with structural policies to strengthen the domestic financial system.
Capital Account Convertibility
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Author : Peter J. Quirk
language : en
Publisher: International Monetary Fund
Release Date : 1994-07-01
Capital Account Convertibility written by Peter J. Quirk and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-07-01 with Business & Economics categories.
This paper analyzes issues for developing countries considering a move to capital account convertibility. It reviews the relevant literature, including arguments for sequencing, and analyses in a series of charts various features of the foreign exchange market impact of removing controls, as against the alternative of foreign exchange intervention. Finally, it examines recent experiences of capital account liberalization by developing countries in the context of multi-pronged stabilization programs.
Liberalization Of The Capital Account
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Author : Donald J. Mathieson
language : en
Publisher:
Release Date : 2006
Liberalization Of The Capital Account written by Donald J. Mathieson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of capital controls diminishes, examines the medium-term benefits and costs of an open capital account, and analyzes the policy measures that could help sustain capital account convertibility. As the effectiveness of capital controls eroded more rapidly in the 1980s than in earlier periods, new constraints were placed on the formulation of stabilization and structural reform programs. However, experience suggests that certain macroeconomic, financial, and risk management policies would allow countries to attain the benefits of capital account convertibility and reduce the financial risks created by an open capital account.
Sequencing Capital Account Liberalization
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Author : Claudia Echeverria
language : en
Publisher: International Monetary Fund
Release Date : 1997-11-01
Sequencing Capital Account Liberalization written by Claudia Echeverria and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-11-01 with Business & Economics categories.
This paper examines issues in sequencing and pacing capital account liberalization and draws lessons from experience in four countries (Chile, Indonesia, Korea, and Thailand). The paper focuses on the interrelationship between capital account liberalization, domestic financial sector reforms, and the design of monetary and exchange rate policy. It concludes that capital account liberalization should be approached as an integrated part of comprehensive reform strategies and should be paced with the implementation of appropriate macroeconomic and exchange rate policies.
Capital Account Liberalization
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Author : Mr.Giovanni Dell'Ariccia
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-30
Capital Account Liberalization written by Mr.Giovanni Dell'Ariccia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-09-30 with Business & Economics categories.
Capital account liberalization - orderly, properly sequence, and befitting the individual circumstances of countries- is an inevitable step for all countries wishing to realize the benefits of the globalized economy. This paper reviews the theories behind capital account liberalization and examines the dangers associated with free capital flows. The authors conclude that the dangers can be limited through a combination of sound macroeconomic and prudential policies.