Capital Folws, capital account liberalisation and the southern Mediterranean countries

Heather Gibson and Thomas Vlassopoulo ()
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Thomas Vlassopoulo: European CentraI Bank, Directorate GeneraI Economics, Bruxelles (Belgium) and Bank of Greece, Economie Research Department, Athens (Greece)

BNL Quarterly Review, 2007, vol. 60, issue 241, 137-165

Abstract: This paper examines questions related to possible capital account liberalisation in the Mediterranean countries. First, we provide an overview of the extent to which these countries have capital controls along with their exchange rate regimes and some basic macroeconomic aggregates. Second, we examine the case for capital account liberalisation, along with the prerequisites for successful liberalisation. Here we consider issues such as sequencing and possible benefits of synchronisation. Finally, we examine the experience with capital flows – both FDI and other capital flows. We explain these flows and use the past experience of these countries to draw some conclusions for the successful opening up of the capital account.

Keywords: Capital Flow; Liberalization (search for similar items in EconPapers)
JEL-codes: F21 F32 O19 O24 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (1)

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