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The Liberalization of Capital Outflows in CIBS: What Opportunities for Other Developing Countries?

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  • Ricardo Gottschalk
  • Cecilia Azevedo Sodre

Abstract

This paper examines the implications of the liberalization of capital outflows in China, India, Brazil, and South Africa (CIBS) for other developing countries. It focuses on their prospects of attracting not only foreign direct investment (FDI), but also portfolio capital flows from CIBS. To inform the discussion, two steps are taken: first, in order to identify the type of capital flows that might come from CIBS, the paper briefly describes capital account liberalization measures undertaken by CIBS to date and future intended liberalization.

Suggested Citation

  • Ricardo Gottschalk & Cecilia Azevedo Sodre, 2008. "The Liberalization of Capital Outflows in CIBS: What Opportunities for Other Developing Countries?," WIDER Working Paper Series RP2008-68, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:rp2008-68
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    File URL: https://www.wider.unu.edu/sites/default/files/rp2008-68.pdf
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    References listed on IDEAS

    as
    1. Philip R. Lane & Sergio L. Schmukler, 2006. "The international financial integration of China and India," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    2. Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2007. "The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004," Journal of International Economics, Elsevier, vol. 73(2), pages 223-250, November.
    3. L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications, The World Bank, number 6632.
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    Keywords

    History (Capital market); Investments; Foreign; Trade regulation;
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