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Capital Account Liberalization and Economic Performance: Survey and Synthesis

IMF Working Paper No. 02/120

39 Pages Posted: 3 Feb 2006

See all articles by Hali J. Edison

Hali J. Edison

International Monetary Fund (IMF) - Research Department

Michael W. Klein

Tufts University - The Fletcher School of Law and Diplomacy; National Bureau of Economic Research (NBER)

Luca A. Ricci

International Monetary Fund (IMF) - Research Department

Torsten Sløk

Deutsche Bank, New York

Multiple version iconThere are 2 versions of this paper

Date Written: July 2002

Abstract

This paper reviews and discusses issues involved in assessing the relationship between capital account liberalization and economic performance. First, it discusses the different measures of restrictions used in the literature. Second, it reviews the literature on the relationship between growth and capital account liberalization. Finally, it identifies and explains some of the differences in the results of the various studies and provides some support for a positive effect of capital account liberalization on growth, especially for developing countries.

Keywords: Capital Account Liberalization, Capital Controls, Capital Flows, Financial Development, Growth

JEL Classification: E66

Suggested Citation

Edison, Hali J. and Klein, Michael W. and Ricci, Luca Antonio and Sløk, Torsten Mikkel, Capital Account Liberalization and Economic Performance: Survey and Synthesis (July 2002). IMF Working Paper No. 02/120, Available at SSRN: https://ssrn.com/abstract=879872

Hali J. Edison (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-6946 (Phone)
202-589-6946 (Fax)

Michael W. Klein

Tufts University - The Fletcher School of Law and Diplomacy ( email )

Medford, MA 02155
United States
617-627-2718 (Phone)
617-627-3712 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Luca Antonio Ricci

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-6007 (Phone)
202-623-4072 (Fax)

Torsten Mikkel Sløk

Deutsche Bank, New York ( email )

60 Wall Street
Mail Stop: NYC60-1815
New York, NY 10005
United States

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