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CAPITAL ACCOUNT OPENNESS AND INFLATION: A PANEL DATA STUDY FOR THE 1990s

  • Abhijit Sen Gupta

    (University of Califonia, Santa Cruz)

This paper aims to look at the relationship between capital account openness and inflation in the 1990s. It argues that widespread capital account liberalization during the early 1990s appears to have contributed to the world-wide disinflation observed during that decade. The paper attempts to provide a theoretical and empirical evidence for a strong negative link between capital account liberalization and disinflation. Capital account openness appears to discipline monetary authorities, or to help them convince the private sector that they will be more disciplined in the future.

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File URL: http://econwpa.repec.org/eps/if/papers/0503/0503002.pdf
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Paper provided by EconWPA in its series International Finance with number 0503002.

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Length: 26 pages
Date of creation: 10 Mar 2005
Date of revision:
Handle: RePEc:wpa:wuwpif:0503002
Note: Type of Document - pdf; pages: 26
Contact details of provider: Web page: http://econwpa.repec.org

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  1. Alberto Alesina & Vittorio Grilli & Gian Maria Milesi-Ferrett, 1993. "The Political Economy of Capital Controls," NBER Working Papers 4353, National Bureau of Economic Research, Inc.
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