A Study on Experiences of the Promotive Effect of Liberalization of Capital Account

doi:10.16382/j.cnki.1000-5579.2005.06.016

Abstract

Abstract:

Since the 1990's there have been a lot of disputes in studies on major experiences in the world as to whether liberalization of capital account is promotive to economic growth or not.However, wherefrom a conclusion is drawn, that is, the promotive effect of capital account liberalization should be different in different countries and the difference attributes primarily to some foundational factors such as financial development and institutional quality, and meanwhile liberalization is promotive to financial development and institutional reconstruction.The inspiration on us is that our country should stress institutional preconditions of opening capital account, but also pay attention to how to take advantage of such an opening to promote institutions.And our government should coordinate reform, opening-up and development appropriately, and advance liberalization of capital account actively and gradually.

Key words: liberalization of capital account, promotive effect, institutional quality, study on experience

CLC Number:

Xin-ru WU. A Study on Experiences of the Promotive Effect of Liberalization of Capital Account[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2005, 37(6): 113-118.

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