V Multilateral and Regional Frameworks for Liberalization of Capital Movements
Author:
Mr. Owen Evens https://isni.org/isni/0000000404811396 International Monetary Fund

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Peter J. Quirk https://isni.org/isni/0000000404811396 International Monetary Fund

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Language:
English
Print Publication Date:
06 Oct 1995
Keywords:
OP; capital; control; liberalization; country; liberalization effort; OECD code; capital liberalization measure; capital liberalization directive; liberalization recommendation; Capital flows; Foreign direct investment; Trade in services

Abstract

Multilateral and regional frameworks have contributed to progress in the liberalization of capital movements. In particular, the OECD Code of Liberalization of Capital Movements and the EU directives have been important because their objectives have been fully attained and because their rules apply to the industrial countries, among which the bulk of capital flows take place today. In the group of developing countries, a limited degree of international capital mobility has existed in the context of the regional monetary arrangement of the CFA franc zone. A new impetus for the liberalization of certain capital movements is likely to come from the World Trade Organization through agreements on the liberalization of international trade in financial services and the associated capital movements.

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Cover Capital Account Convertibility
Capital Account Convertibility
Review of Experience and Implications for IMF Policies
ISBN:
9781557755247
ISSN:
0251-6365
Publication Date:
06 Oct 1995
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557755247.084
Pages:
56