The Liberalisation of Capital Movements and the EMS

Paul Grauwe

Chapter 8 in Prospects for the European Monetary System, 1990, pp 159-177 from Palgrave Macmillan

Abstract: Abstract Major EMS countries like France and Italy have begun to liberalise capital movements. This process should lead to complete freedom of capital movements within the EMS by 1990. It is clear that this will have profound effects on the functioning of the EMS. Some observers worry that free capital mobility may lead to more fragility of the EMS, others that capital market integration in the EMS is the next and necessary step towards full monetary integration.

Keywords: Interest Rate; Monetary Policy; Money Market; Capital Mobility; Exchange Rate Regime (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11629-4_8

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DOI: 10.1007/978-1-349-11629-4_8

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