IMF paper considers impact of China’s capital account liberalisation
An International Monetary Fund (IMF) working paper, published last week, assesses the implications of China reducing its capital controls on the rest of the globe.
In Do Inflows or Outflows Dominate? Global Implications of Capital Account Liberalization in China, Tamim Bayoumi and Franziska Ohnsorge observe that, in the experience of advanced and large emerging market economies, capital account liberalisation has typically generated large gross capital inflows and outflows.
The authors note the
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