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Capital account liberalization and macroeconomic performance : The case of Korea

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  • Capital account liberalization and macroeconomic performance
  • 왕윤종; 김성현; 김소영
  • Korea Institute for International Economic Policy
Contents

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Title Capital account liberalization and macroeconomic performance
Similar Titles
Sub Title

The case of Korea

Material Type Reports
Author(Korean)

왕윤종; 김성현; 김소영

Publisher

[서울]:Korea Institute for International Economic Policy

Date 2001
Series Title; No Policy Analysis / 01-01
Language Korean
File Type Link
Subject Economy < Trade
Holding Korea Institute for International Econmic Policy

Abstract

Chapter I. IntroductionMany emerging market economies have relaxed and removed statutory restrictions on capital account transactions and liberalized domestic financial markets to capture the benefits of capital inflows. However, in a number of cases, capital account liberalization and ensuing capital surges seem to be associated with financial crises. While capital account liberalization does not necessarily lead to financial crisis, it is true that high capital mobility can easily drive an emerging economy to be more vulnerable to outside shocks by complicating its macroeconomic management. (The rest omitted)