Liberalization of the Capital Account: Experiences and Issues

Liliana Rojas-Suarez and Donald Mathieson

No 1993/005, IMF Occasional Papers from International Monetary Fund

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.

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 (search for similar items in EconPapers)
Pages: 44
Date: 1993-03-15
References: Add references at CitEc
Citations: View citations in EconPapers (73)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=42 (application/pdf)

Related works:
Working Paper: Liberalization of the Capital Account: Experiences and Issues (1992)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfops:1993/005

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Occasional Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().