Publication:
Capital Account Liberalization : What Do Cross-Country Studies Tell Us?

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creativeworkseries.issn1564-698X
dc.contributor.authorEichengreen, Barry
dc.date.accessioned2014-03-27T20:33:47Z
dc.date.available2014-03-27T20:33:47Z
dc.date.issued2001-09
dc.description.abstractCapital account liberalization, it is fair to say, remains one of the most controversial and least understood policies of our day. One reason is that different theoretical perspectives have very different implications for the desirability of liberalizing capital flows. Another is that empirical analysis has failed to yield conclusive results. The answer, another influential strand of thought contends, is that this efficient-markets paradigm is fundamentally misleading when applied to capital flows. Limits on capital movements are a distortion. It is an implication of the theory of the second best that removing one distortion need not be welfare enhancing when other distortions are present.en
dc.identifierhttp://documents.worldbank.org/curated/en/2001/09/17737458/capital-account-liberalization-cross-country-studies-tell
dc.identifier.citationWorld Bank Economic Review
dc.identifier.doi10.1596/17435
dc.identifier.urihttps://hdl.handle.net/10986/17435
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesWorld Bank Economic Review
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectASSET PRICES
dc.subjectASYMMETRIC INFORMATION
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK INTERMEDIATION
dc.subjectBANK REGULATION
dc.subjectBANKING CRISES
dc.subjectBANKING SYSTEM
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPTCY
dc.subjectBLACK MARKET
dc.subjectBOND
dc.subjectBOND MARKETS
dc.subjectBONDS
dc.subjectBUDGET DEFICIT
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL ACCOUNT LIBERALIZATION
dc.subjectCAPITAL ACCOUNT RESTRICTIONS
dc.subjectCAPITAL ACCOUNT TRANSACTIONS
dc.subjectCAPITAL ACCOUNTS
dc.subjectCAPITAL CONSTRAINTS
dc.subjectCAPITAL CONTROL
dc.subjectCAPITAL CONTROLS
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOW
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKET LIBERALIZATION
dc.subjectCAPITAL MOBILITY
dc.subjectCAPITAL MOVEMENTS
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITAL TRANSACTIONS
dc.subjectCAPITAL TRANSFERS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK INDEPENDENCE
dc.subjectCENTRAL BANKS
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOUNTRY RISK
dc.subjectCREDITOR
dc.subjectCREDITOR RIGHTS
dc.subjectCROSS-COUNTRY STUDIES
dc.subjectCURRENCY
dc.subjectCURRENCY CRISES
dc.subjectCURRENCY CRISIS
dc.subjectCURRENCY RISK
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT TRANSACTIONS
dc.subjectDEBT
dc.subjectDEBT SECURITIES
dc.subjectDEBT SERVICING
dc.subjectDEBT SERVICING COSTS
dc.subjectDEFAULT RISK
dc.subjectDEPOSIT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDISTORTION
dc.subjectDISTORTIONS
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC EQUITY
dc.subjectDOMESTIC FINANCIAL LIBERALIZATION
dc.subjectDOMESTIC FINANCIAL MARKETS
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC SECURITIES
dc.subjectDUMMY VARIABLE
dc.subjectDUMMY VARIABLES
dc.subjectECONOMIC DEVELOPMENT
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKETS
dc.subjectEQUITY MARKETS
dc.subjectEXCHANGE ARRANGEMENTS
dc.subjectEXCHANGE CONTROLS
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXCHANGE RESTRICTIONS
dc.subjectEXPENDITURE
dc.subjectEXPORTERS
dc.subjectEXTERNAL DEBT
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFEDERAL RESERVE SYSTEM
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL FRAGILITY
dc.subjectFINANCIAL INSTABILITY
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL LIBERALIZATION
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL OPENNESS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATES
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EQUITIES
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN FUNDS
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFORWARD RATES
dc.subjectFREE CAPITAL
dc.subjectFUTURES
dc.subjectFUTURES MARKET
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT SPENDING
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectIMPORT
dc.subjectIMPORTS
dc.subjectINFLATION
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINSTITUTIONAL DEVELOPMENT
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINTEREST DIFFERENTIALS
dc.subjectINTEREST EARNINGS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE PARITY
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL FINANCIAL INTEGRATION
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL INVESTMENT
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL PORTFOLIO
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTOR CONFIDENCE
dc.subjectLENDERS
dc.subjectLIQUIDITY
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMARGINAL PRODUCT
dc.subjectMARKET CAPITALIZATIONS
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET ECONOMIES
dc.subjectMARKET INTEGRATION
dc.subjectMARKET RETURNS
dc.subjectMATURITY
dc.subjectMATURITY STRUCTURE
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectMORAL HAZARD
dc.subjectOFFSHORE BANK
dc.subjectOFFSHORE MARKET
dc.subjectOFFSHORE MARKETS
dc.subjectOPEN COUNTRIES
dc.subjectOPEN ECONOMY
dc.subjectOPPORTUNITY COST
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL RISK
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO CAPITAL
dc.subjectPORTFOLIO CAPITAL INFLOWS
dc.subjectPORTFOLIO DIVERSIFICATION
dc.subjectPORTFOLIO FLOWS
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPRUDENTIAL REGULATION
dc.subjectPRUDENTIAL SUPERVISION
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SPENDING
dc.subjectRATE OF RETURN
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectREGIONAL DUMMY
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENTS
dc.subjectRETURN
dc.subjectRISK EXPOSURE
dc.subjectRISK EXPOSURES
dc.subjectSAFETY NET
dc.subjectSECURITIES
dc.subjectSECURITIES MARKETS
dc.subjectSHORT-TERM CAPITAL
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM INTEREST RATES
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET DEVELOPMENT
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSURRENDER REQUIREMENTS
dc.subjectTAX
dc.subjectTAX RATES
dc.subjectTRADING
dc.subjectTRANSITION ECONOMIES
dc.subjectTURNOVER
dc.subjectUNDERLYING ASSETS
dc.subjectWARRANTS
dc.subjectWORLD MARKET INTEGRATION
dc.titleCapital Account Liberalization : What Do Cross-Country Studies Tell Us?en
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.date.disclosure2013-05-21
okr.date.doiregistration2025-05-06T11:07:10.749513Z
okr.doctypePublications & Research::Journal Article
okr.docurlhttp://documents.worldbank.org/curated/en/2001/09/17737458/capital-account-liberalization-cross-country-studies-tell
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid987171468326681432
okr.identifier.externaldocumentum000356161_20130521145757
okr.identifier.internaldocumentum17737458
okr.identifier.report77362
okr.journal.nbpages341-365
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/05/21/000356161_20130521145757/Rendered/PDF/773620JRN020010count0Liberalization.pdfen
okr.peerreviewAcademic Peer Review
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicMacroeconomics and Economic Growth::Political Economy
okr.volume15(3)
relation.isJournalIssueOfPublication26fe5044-0cc5-4f26-8839-5ac2b1ca123f
relation.isJournalIssueOfPublication.latestForDiscovery26fe5044-0cc5-4f26-8839-5ac2b1ca123f
relation.isJournalOfPublicationc41eae2f-cf94-449d-86b7-f062aebe893f
relation.isJournalVolumeOfPublication673503d1-2849-439f-b8d7-fbe5192e8881
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