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Advanced Country Experiences with Capital Account Liberalization

Age Bakker, Bryan Chapple




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 | #4003664 in eBooks |  2002-09-26 |  2002-09-26 | File type: PDF

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After the industrial countries established current account convertibility in the late1950s, they began to phase out their capital controls. Their efforts were slow and tentative at first, but built up considerable momentum by the 1980s as market-oriented economic policies gained popularity. This paper describes how national policymakers’ views of capital controls shifted over time, and how these controls have been closely related to regulation in other policy areas...

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