Capital Account Liberalization: Theoretical and Practical Aspects
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Michael Mussa Mr. Giovanni Dell'Ariccia Mr. Barry J. Eichengreen Ms. Enrica Detragiache
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 1998
E-ISBN: 9781452751023
P-ISBN(Paperback): 9781557757777
Subject： F831.6 international financial relations
Language： ENG
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Description
Capital account liberalization - orderly, properly sequence, and befitting the individual circumstances of countries- is an inevitable step for all countries wishing to realize the benefits of the globalized economy. This paper reviews the theories behind capital account liberalization and examines the dangers associated with free capital flows. The authors conclude that the dangers can be limited through a combination of sound macroeconomic and prudential policies.