Current and Capital Account Convertibility

Wilbert O. Bascom
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Wilbert O. Bascom: State of Florida

Chapter 6 in The Economics of Financial Reform in Developing Countries, 1994, pp 69-83 from Palgrave Macmillan

Abstract: Abstract While internal financial reform policies focus on the liberalization of domestic financial markets, external financial reform policies are concerned mainly with current and capital account convertibility. Current account convertibility permits the free exchange of a country’s currency for foreign currencies to finance international transactions in goods, services, and unrequited transfers. Capital account convertibility refers to the removal of controls on capital movements or the opening of the capital account of the balance of payments. There are, however, interesting relationships between these two types of reform policies, as well as between current and capital account convertibility.

Keywords: Current Account; Real Exchange Rate; Real Interest Rate; Capital Inflow; Capital Account (search for similar items in EconPapers)
Date: 1994
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DOI: 10.1007/978-1-349-23372-4_6

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