After the industrial countries established current account convertibility in the late1950s, they began to phase out their capital controls. Their efforts were s

"Writings on the macroeconomic impact of capital account liberalization find few, if any, robust effects of liberalization on real variables. In contrast to the

This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average,

Capital account liberalization - orderly, properly sequence, and befitting the individual circumstances of countries- is an inevitable step for all countries wi

'This collection provides an excellent account of the diverging ways countries in varying parts of the world went about liberalizing capital flows. Case studies