Exchange Rates, Interest Rates and the Mobility of Capital

Andrew Britton and Peter Spencer

Chapter 6 in Exchange Rate Policy, 1982, pp 195-236 from Palgrave Macmillan

Abstract: Abstract In October last year, the UK Government announced the abolition of exchange controls. Before that date, there was one obvious reason why domestic capital at least was not perfectly mobile between UK and foreign assets. It is too early to say how profound an effect the abolition of exchange control has had on the integration of domestic and foreign capital markets, but the direction in which the system has moved is clear enough. This has stimulated special interest in this country in the implications of enhanced mobility. Within the Treasury, it has stimulated various pieces of analysis on which the present paper is based.

Keywords: Exchange Rate; Interest Rate; Real Exchange Rate; Money Supply; Real Interest Rate (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-16863-7_7

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