Cover Liberalization of the Capital Account
Liberalization of the Capital Account
Experiences and Issues
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Abstract

This study explores the industrial and developing countries use of capital controls since World War II, including their rationales for using them, and describes their experiences with relaxing controls as part of broader liberalization and structural reform efforts. The papers also outlines the potential medium-term costs and benefits of an open capital account and the policy measures that would help sustain capital account convertibility.

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Author:
Ms. Liliana Rojas-Suárez https://isni.org/isni/0000000404811396 International Monetary Fund

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and
Mr. Donald J Mathieson
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Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
15 Mar 1993
DOI:
https://doi.org/10.5089/9781557752802.084
ISBN:
9781557752802
ISSN:
0251-6365
Pages:
44
Keywords:
OP; control; capital; risk variable; expropriation risk; deficit variable; appendix capital flight; domestic assets; Capital controls; Capital account; Capital flows; Capital account convertibility; Real exchange rates; Global; Western Europe; Europe; Africa; Asia and Pacific; exchange rate volatility; financial market condition; capital account transactions; capital transaction; exchange arrangement; interest rate differential; Caribbean
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.
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