Capital Account Liberalization

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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 Account Liberalization And Economic Performance

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Author : Hali J. Edison
language : en
Publisher:
Release Date : 2002

Capital Account Liberalization And Economic Performance written by Hali J. Edison and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Capital market categories.

This paper reviews the literature on the effects of capital account liberalization and stock market liberalization on economic growth. The various empirical measures used to gauge the presence of controls on capital account transactions as well as indicators of stock market liberalization are discussed. We compare detailed measures of capital account controls that attempt to capture the intensity of enforcement with others that simply capture whether or not controls are present. Our review of the literature shows the contrasting results that have been obtained. These differences may reflect differences in country coverage, sample periods and indicators of liberalization. In order to reconcile these differences, we present new estimates of the effects on growth of capital account liberalization and stock market liberalization. We find some support for a positive effect of capital account liberalization on growth, especially for developing countries.

Capital Account Liberalization

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Author : Christoph Yew
language : en
Publisher: GRIN Verlag
Release Date : 2008-12-16

Capital Account Liberalization written by Christoph Yew and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-16 with Political Science categories.

Diploma Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 2.0, University of Osnabrück (Fachbereich Außenwirtschaft), language: English, abstract: During the recent decades, many countries decided to get access to international financial markets by liberalizing their capital accounts. As we will see in this paper, the issues of liberalization are very complex. Many different areas like, for example, growth, inflation or the labor market are affected by it. For some areas, empirical research supports theory and delivers sustainable and significant results. For others, theory is inconsistent or not supported by evidence from the real world. Some special ones, like for instance welfare or productivity, even show that it is important to split up the results to see whose welfare is increased or which’s branch productivity is affected. Another interesting point is the connection between crises and capital account liberalization. Due to the financial crises that occurred in the aftermath of liberalization the concept has been controversially debated by academics for a long time. The real connection between these two issues is not yet clear. The structure of this paper is as follows. Section 2 will give short case studies of countries that liberalized their capital account. Section 3 is meant to endow the reader with some basic tools that will be important for the understanding of the concepts that will be presented later on in this paper. This includes definitions and conceptual ideas about measuring capital account liberalization. Section 4 focuses on the theory and empirical findings. In that section, the effects of liberalization on various macroeconomic variables will be presented. Section 5 follows the thoughts of the prior one by having a look at the implications that can be concluded from the theoretical and empirical findings that have been presented in the prior chapter. Section 6 discusses capital account liberalization with respect to the role the IMF played concerning its promotion. This section will also discuss the development of the Fund’s stance towards liberalization. Section 7 will conclude.

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 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.

Capital Account Liberation

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Author : Ying Yirong
language : en
Publisher: CRC Press
Release Date : 2015-05-13

Capital Account Liberation written by Ying Yirong and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-13 with Business & Economics categories.

Along with the development of economic globalization, many countries have begun to relax their controls on their capital accounts. However, the recent financial crises in Latin American countries as well as the exchange rate crises in Southeast Asian countries have shown that there is major risk associated with capital account liberalization.This b

Capital Account Liberalization And Inequality

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Author : Davide Furceri
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-24

Capital Account Liberalization And Inequality written by Davide Furceri 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 2015-11-24 with Business & Economics categories.

This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also find that the level of financial development and the occurrence of crises play a key role in shaping the response of inequality to capital account liberalization reforms.

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 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 Liberalization And The Role Of The Imf

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Author : Stanley Fischer
language : en
Publisher:
Release Date : 1997

Capital Account Liberalization And The Role Of The Imf written by Stanley Fischer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Capital categories.