Chapter

Capital Account Liberalization

Yung Chul Park

in Economic Liberalization and Integration in East Asia

Published in print December 2005 | ISBN: 9780199276776
Published online February 2006 | e-ISBN: 9780191603051 | DOI: http://dx.doi.org/10.1093/0199276773.003.0017
 Capital Account Liberalization

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The degree of capital account liberalization in Malaysia and South Korea before and after the crisis were compared. It is difficult to determine whether capital controls or the implementation of an explicit IMF program led to improved economic performance. The factors explaining the reluctance of East Asian economies to liberalize capital account transactions are discussed, including appropriate sequencing conditions.

Keywords: capital controls; liberalization policy; foreign direct investment; financial globalization; macroeconomic volatility; sequencing

Chapter.  4075 words.  Illustrated.

Subjects: Business and Management

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