At the beginning of the 1990s, policy doctors were almost unanimous in advocating a strong dose of capital and financial market liberation for developing countries as a way to improve their prospects ...

Financial liberalization has been a controversial issue as there is little empirical evidence for its positive effects on economic growth. However, we find sizable welfare gains, 1 to 28 percent of ...

Should governments be permitted, or even encouraged, to try to control the movement of financial capital into and out of their countries? Unlike in the area of foreign trade, in which the presumption ...

A fundamental issue in undertaking capital account liberalization is how to reap the benefits from capital market access while coping safely with the risks associated with international capital flows.

Financial liberalization in China has broad implications, including changing how its central bank’s monetary policy affects the nation’s economy. An estimate of Chinese economic activity and inflation ...

When members of Ethiopia’s banking and business community gathered in the glitzy Sheraton Addis for an audience with the reform-minded new prime minister, Abiy Ahmed, in the middle of April, any hopes ...

The Chinese Communist Party’s prioritizing of political control over economic efficiency stands in the way of China’s rise in global finance. The central bank announcement points to an important ...