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Liberalizing Capital Movements Some Analytical Issues

This paper addresses the potential gains and risks of open capital markets by first looking at what classical economic theory suggests aboutthe benefits of capital mobility and then examining the counterargumentsarising from problems of incomplete information and other distortions.It shows that the...

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Bibliographic Details
Main Author: Milesi-Ferretti, Gian
Other Authors: Dell'Ariccia, Giovanni, Detragiache, Enrica, Eichengreen, Barry
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2005
Series:Economic Issues
Subjects:
Economic & Financial Crises & Disasters
Capital Account Liberalization
Finance
Short-term Capital Movements
Financial Crises
Financial Sector Policy And Analysis
General Financial Markets: Government Policy And Regulation
Current Account Adjustment
Balance Of Payments
Long-term Capital Movements
Exports And Imports
Capital Account
International Economics
Capital Flows
Financial Risk Management
Moral Hazard
Capital Movements
Finance: General
International Investment
Russian Federation
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper addresses the potential gains and risks of open capital markets by first looking at what classical economic theory suggests aboutthe benefits of capital mobility and then examining the counterargumentsarising from problems of incomplete information and other distortions.It shows that the risks of removing controls on flows of capital acrossnational borders are similar to those associated with removing controlson domestic financial institutions. The paper then explores how to manageliberalization to minimize the risks and maximize the benefits
Physical Description:19 pages
ISBN:9781557757920

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