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Capital Account Convertibility: A New Model for Developing Countries

Author

Listed:
  • Peter J. Quirk

Abstract

This paper analyzes issues for developing countries considering a move to capital account convertibility. It reviews the relevant literature, including arguments for sequencing, and analyses in a series of charts various features of the foreign exchange market impact of removing controls, as against the alternative of foreign exchange intervention. Finally, it examines recent experiences of capital account liberalization by developing countries in the context of multi-pronged stabilization programs.

Suggested Citation

  • Peter J. Quirk, 1994. "Capital Account Convertibility: A New Model for Developing Countries," IMF Working Papers 1994/081, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1994/081
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=1272
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    Cited by:

    1. Warwick J. McKibbin & K. K. Tang, 2000. "Trade and Financial Reform in China: Impacts on the World Economy," The World Economy, Wiley Blackwell, vol. 23(8), pages 979-1003, August.
    2. Buch, Claudia M. & Heinrich, Ralph P., 1997. "Financing the transition: Risks and benefits of integrating into the international capital market," Kiel Working Papers 818, Kiel Institute for the World Economy (IfW Kiel).

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