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Towards Capital Account Convertibility

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  • Bernhard Fischer
  • Helmut Reisen

Abstract

• Advanced developing countries are increasingly encouraged to remove existing capital controls, but mixed experiences with capital account opening caution that reform must be carefully designed to increase efficiency and growth without compromising stability • A gradual dismantling of capital controls is recommended, based on progress made in tax reform, exchange rate management, enforcement of bank competition and supervision, and solving domestic banks' bad-loan problems

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File URL: http://dx.doi.org/10.1787/332312815187
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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Development Centre Policy Briefs with number 4.

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Date of creation: 15 Apr 1992
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Handle: RePEc:oec:devaab:4-en

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Cited by:
  1. Katerina Smidkova, 2003. "The Emergence of Financial Markets in Transition: The Czech Experience," Macroeconomics 0304005, EconWPA.
  2. Llanto, Gilberto M. & Intal, Ponciano Jr. S., 1998. "Financial Reform and Development in the Philippines, 1980-1997: Imperatives, Performance and Challenges," Discussion Papers DP 1998-02, Philippine Institute for Development Studies.
  3. Pappas, Anastasios, 2010. "Capital mobility and growth: Evidence from Greece," MPRA Paper 29105, University Library of Munich, Germany.
  4. J. Mohan Rao, 1998. "Development in the Time of Globalization," Working Papers wp1, Political Economy Research Institute, University of Massachusetts at Amherst.
  5. Louis Kasekende & Damoni Kitabire & Matthew Martin, 1998. "Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa," Macroeconomics 9809005, EconWPA.
  6. Michael P. Dooley & Menzie Chinn, 1995. "Financial Repression and Capital Mobility: Why Capital Flows and Covered Interest Rate Differentials Fail to Measure Capital Market Integration," NBER Working Papers 5347, National Bureau of Economic Research, Inc.
  7. Funke, Norbert, 1993. "Timing and sequencing of reforms: Competing views," Kiel Working Papers 552, Kiel Institute for the World Economy.
  8. Tarafás, Imre, 1995. "Monetáris politika - eszközök és feltételek
    [Monetary policy: instruments and conditions]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1024-1043.
  9. Menzie Chinn & Michael Dooley, 1995. "Asia-Pacific Capital Markets: Measurement of Integration and the Implications for Economic Activity," NBER Working Papers 5280, National Bureau of Economic Research, Inc.
  10. Anastasios, Pappas, 2010. "Capital mobility and macroeconomic volatility: evidence from Greece," MPRA Paper 29106, University Library of Munich, Germany.
  11. Kim Kyung Soo, 2000. "Foreign Exchange Intervention For Internal Balance," International Economic Journal, Taylor & Francis Journals, vol. 14(4), pages 59-75.
  12. Sheng, Andrew & Yoon Je Cho, 1993. "Risk management and stable financial structures," Policy Research Working Paper Series 1109, The World Bank.
  13. Menzie Chinn & Michael Dooley, 1995. "National, regional and international capital markets: Measurement and implications for domestic financial fragility," International Finance 9508006, EconWPA.
  14. Tony Cavoli & Ramkishen S. Rajan, 2005. "THE CAPITAL INFLOWS PROBLEM IN SELECTED ASIAN ECONOMIES IN THE 1990s REVISITED : THE ROLE OF MONETARY STERILIZATION," Finance Working Papers 22562, East Asian Bureau of Economic Research.
  15. Martín Redrado & Jorge Carrera & Diego Bastourre & Javier Ibarlucia (ed.), 2006. "The Economic Policy of Foreign Reserve Accumulation: New International Evidence," BCRA Paper Series, Central Bank of Argentina, Economic Research Department, number 02, June.
  16. Diehl, Markus & Schweickert, Rainer, 1998. "Currency crises: is Asia different?," Kiel Discussion Papers 309, Kiel Institute for the World Economy (IfW).
  17. Oguz Esen, 2000. "Financial Openness in Turkey," International Review of Applied Economics, Taylor & Francis Journals, vol. 14(1), pages 5-23.

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