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Towards Capital Account Convertibility

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Author Info
Bernhard Fischer
Helmut Reisen ()

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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://www.sourceoecd.org/10.1787/332312815187
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Paper provided by OECD Development Centre 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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  1. Menzie Chinn & Michael Dooley, 1995. "National, regional and international capital markets: Measurement and implications for domestic financial fragility," International Finance 9508006, EconWPA. [Downloadable!]
  2. Sheng, Andrew & Yoon Je Cho, 1993. "Risk management and stable financial structures," Policy Research Working Paper Series 1109, The World Bank. [Downloadable!]
  3. 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. [Downloadable!] (restricted)
  4. Intal, Ponciano Jr. S. & Llanto, Gilberto M., 1998. "Financial Reform and Development in the Philippines, 1980-1997: Imperatives, Performance and Challenges," Discussion Papers DP 1998-02, Philippine Institute for Development Studies. [Downloadable!]
  5. Katerina Smidkova, 2003. "The Emergence of Financial Markets in Transition: The Czech Experience," Macroeconomics 0304005, EconWPA. [Downloadable!]
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  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. [Downloadable!] (restricted)
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  7. Louis Kasekende & Damoni Kitabire & Matthew Martin, 1998. "Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa," Macroeconomics 9809005, EconWPA. [Downloadable!]
  8. Kyung Soo Kim, 2000. "Foreign Exchange Intervention For Internal Balance," International Economic Journal, Korean International Economic Association, vol. 14(4), pages 59-75, December. [Downloadable!] (restricted)
  9. Tony Cavoli & Ramkishen S. Rajan, 2005. "The Capital Inflows Problem in Selected Asian Economies in the 1990s Revisited: The Role of Monetary Sterilization," SCAPE Policy Research Working Paper Series 0518, National University of Singapore, Department of Economics, SCAPE. [Downloadable!]
  10. Oguz Esen, 2000. "Financial Openness in Turkey," International Review of Applied Economics, Taylor and Francis Journals, vol. 14(1), pages 5-23, January. [Downloadable!] (restricted)
  11. Nsouli, Saleh M & Rached, Mounir, 1998. "Capital Account Liberalization in the Southern Mediterranean Region," IMF Papers on Policy Analysis and Assessments 98/11, International Monetary Fund. [Downloadable!]
  12. J. Mohan Rao, 1998. "Development in the Time of Globalization," Working Papers wp1, Political Economy Research Institute, University of Massachusetts at Amherst. [Downloadable!]
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