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Capital Account Liberalization and Economic Performance: Survey and Synthesis

  • Hali J. Edison

    (International Monetary Fund)

  • Michael W. Klein

    (International Monetary Fund)

  • Luca Antonio Ricci

    (International Monetary Fund)

  • Torsten Sløk

    (International Monetary Fund)

This paper reviews and discusses issues involved in assessing the relationship between capital account liberalization and economic performance. First, it discusses the different measures of restrictions used in the literature. Second, it reviews the literature on the relationship between growth and capital account liberalization. Finally, it identifies and explains some of the differences in the results of the various studies and provides some support for a positive effect of capital account liberalization on growth, especially for developing countries.

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Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

Volume (Year): 51 (2004)
Issue (Month): 2 ()
Pages: 2

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Handle: RePEc:pal:imfstp:v:51:y:2004:i:2:p:2
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  18. Kaplan, Ethan & Rodrik, Dani, 2001. "Did the Malaysian Capital Controls Work?," Working Paper Series rwp01-008, Harvard University, John F. Kennedy School of Government.
  19. Bailliu, Jeannine N., 2000. "Private Capital Flows, Financial Development, and Economic Growth in Developing Countries," Working Papers 00-15, Bank of Canada.
  20. Lane, Philip & Milesi-Ferretti, Gian Maria, . "External Wealth of Nations," Instructional Stata datasets for econometrics extwealth, Boston College Department of Economics.
  21. Chanda, Areendam, 2005. "The influence of capital controls on long run growth: Where and how much?," Journal of Development Economics, Elsevier, vol. 77(2), pages 441-466, August.
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