IDEAS home Printed from https://ideas.repec.org/p/unu/wpaper/rp2008-68.html

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://www.wider.unu.edu/sites/default/files/rp2008-68.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Deepak Nayyar, 2000. "Capital Controls and the World Financial Authority: What Can We Learn from the Indian Experience?," SCEPA working paper series. 2000-12, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    2. Philip R. Lane & Sergio L. Schmukler, 2006. "The international financial integration of China and India," Proceedings, Federal Reserve Bank of San Francisco, issue jun.
    3. 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.
    4. L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications - Books, The World Bank Group, number 6632, April.
    5. Lane, Philip & Schmukler, Sergio, 2006. "The International Financial Integration of China and India," CEPR Discussion Papers 5852, C.E.P.R. Discussion Papers.
    6. Ricardo Gottschalk & Cecilia Azevedo Sodré, 2008. "The Liberalization of Capital Outflows in Brazil, India and South Africa since the early 1990s," Palgrave Macmillan Books, in: Philip Arestis & Luiz Fernando Paula (ed.), Financial Liberalization and Economic Performance in Emerging Countries, chapter 5, pages 95-120, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matthieu Bussière & Arnaud Mehl, 2008. "China's and India's roles in global trade and finance - twin titans for the new millennium?," Occasional Paper Series 80, European Central Bank.
    2. John Lipsky, 2009. "Asia, the financial crisis, and global economic governance - closing remarks," Proceedings, Federal Reserve Bank of San Francisco.
    3. Maurice Obstfeld & Kenneth S. Rogoff, 2009. "Global imbalances and the financial crisis: products of common causes," Proceedings, Federal Reserve Bank of San Francisco, pages 131-172.
    4. Xin Wang, 2007. "China as a Net Creditor: An Indication of Strength or Weaknesses?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 15(6), pages 22-36, November.
    5. S. K. A. Rizvi & B. Naqvi & C. Bordes, 2013. "Time varying equity market beta as an index of financial openness?," Applied Financial Economics, Taylor & Francis Journals, vol. 23(11), pages 921-928, June.
    6. ten Brink, Tobias, 2010. "Strukturmerkmale des chinesischen Kapitalismus," MPIfG Discussion Paper 10/1, Max Planck Institute for the Study of Societies.
    7. Mérette Marcel & Georges Patrick, 2010. "Demographic Changes and the Gains from Globalisation: An Analysis of Ageing, Capital Flows, and International Trade," Global Economy Journal, De Gruyter, vol. 10(3), pages 1-39, October.
    8. Rogoff, Kenneth & Obstfeld, Maurice, 2009. "Global Imbalances and the Financial Crisis: Products of Common Causes," CEPR Discussion Papers 7606, C.E.P.R. Discussion Papers.
    9. James R. Barth & Gerard Caprio Jr., 2007. "China's Changing Financial System: Can It Catch Up With, or Even Drive Growth," NFI Policy Briefs 2007-PB-05, Indiana State University, Scott College of Business, Networks Financial Institute.
    10. L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications - Books, The World Bank Group, number 6632, April.
    11. Guonan Ma & Zhou Haiwen, 2009. "China’s evolving external wealth and rising creditor position," BIS Working Papers 286, Bank for International Settlements.
    12. Miria Pigato, 2009. "Strengthening China's and India's Trade and Investment Ties to the Middle East and North Africa," World Bank Publications - Books, The World Bank Group, number 2626, April.
    13. Eliana Rubiano-Matulevich, 2010. "El crecimiento de China e India y su relación con el patrón de especialización comercial de Estados Unidos, la Unión Europea y Colombia," Revista de la Maestría de Derecho Económico, Universidad Javeriana - Derecho Económico.
    14. Prasad, Eswar S., 2009. "Some New Perspectives on India’s Approach to Capital Account Liberalization," India Policy Forum, National Council of Applied Economic Research, vol. 5(1), pages 125-178.
    15. Prasad, Eswar S., 2009. "Is the Chinese growth miracle built to last?," China Economic Review, Elsevier, vol. 20(1), pages 103-123, March.
    16. Feltenstein, Andrew & Rochon, Céline & Shamloo, Maral, 2010. "High growth and low consumption in East Asia: How to improve welfare while avoiding financial failures," Journal of Development Economics, Elsevier, vol. 91(1), pages 25-36, January.
    17. Peeters, Marga & Sabri, Nidal Rachid, 2012. "International financial integration of Mediterranean economies : A bird’s-eye view," MPRA Paper 38081, University Library of Munich, Germany.
    18. L Alan Winters, 2015. "China and the World Trading System: Will ‘In and Up’ be replaced by ‘Down and Out’?," RSCAS Working Papers 2015/82, European University Institute.
    19. Philip Lane, 2007. "The Swedish external position and the krona," International Economics and Economic Policy, Springer, vol. 4(3), pages 263-279, November.
    20. Gargi Sanati, 2010. "Integration of India’s Financial Markets on the Domestic and International Fronts: An Emperical Analysis of the Post-Liberalisation Period. June 2010," Working Papers id:3097, eSocialSciences.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:rp2008-68. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Siméon Rapin (email available below). General contact details of provider: https://edirc.repec.org/data/widerfi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.