MANAGING THE PROCESS OF REMOVING CAPITAL CONTROLS: WHAT DOES THE LITERATURE SUGGEST?
综述了关于资本账户开放的经济理论与实证证据，指出其对增长、汇率等影响存在争议，并为政策制定者管理资本管制取消过程提供建议。
Abstract Economic theory suggests that opening the capital account should allow a country to diversify away economic shocks, increase capital inflows, expand economic growth and efficiency as well as encourage governments to pursue good policies. The empirical evidence with regard to these theoretical predictions, however, are in some instances debatable. Many studies, for example, have reported mixed results as it relates to the impact of capital account integration on growth, exchange rates, trade and policy discipline. This paper provides a review of this literature as well as some recommendations for policymakers in relation to managing the process of removing capital controls.