LEADER 06582oam 22013814 450 001 9910779594503321 005 20230802005952.0 010 $a1-4755-4890-7 010 $a1-4755-4727-7 010 $a1-283-94790-0 035 $a(CKB)2550000001003755 035 $a(EBL)1607068 035 $a(SSID)ssj0000949401 035 $a(PQKBManifestationID)11596466 035 $a(PQKBTitleCode)TC0000949401 035 $a(PQKBWorkID)10996636 035 $a(PQKB)10653729 035 $a(MiAaPQ)EBC1607068 035 $a(Au-PeEL)EBL1607068 035 $a(CaPaEBR)ebr10644329 035 $a(CaONFJC)MIL426040 035 $a(OCoLC)819351941 035 $a(IMF)WPIEE2012275 035 $a(IMF)WPIEA2012275 035 $a(EXLCZ)992550000001003755 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aEffects of Capital Flow Liberalization : $eWhat is the Evidence from Recent Experiences of Emerging Market Economies? /$fTahsin Saadi Sedik, Tao Sun 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/12/275 300 $aAt head of title: Monetary and Capital Markets Department -- verso of t.p. 300 $a"November 2012" -- verso of t.p. 311 $a1-4755-6457-0 311 $a1-58906-803-3 320 $aIncludes bibliographical references. 327 $aCover; Abstract; Contents; I. Introduction; II. Measuring Capital Flow Restrictiveness; III. Recent Trends in Capital Flow Liberalization; Figures; 1. Capital Flow Liberalization Index; 2. Liberalization of Capital Flows, 1997 and 2010; Tables; 1. Countries that Liberalized During 1995-2010; IV. Empirical Strategy and Results; V. Simulation of the Effects of Capital Flow Liberalization on China; 3. De Jure and de Facto Measure of Liberalizing Capital Flows (2010); 4. Effects of Liberalizing Capital Flows in China; VI. Conclusions and Policy Implications; References 327 $a2. Panel Regressions-Real GDP per Capita Growth 3. Panel Regressions-Inflation; 4. Panel Regressions-Equity returns; 5. Panel Regressions-Capital Adequacy Ratios; 6. Panel Regressions-Capital Inflows; 7. Panel Regressions-Capital Outflows; Appendices; I. Data Definition and Sources; II. Assumptions for Simulation of the Effects of Capital Flow Liberalization on China 330 3 $aThis paper analyzes the experiences of emerging market economies (EMEs) that have liberalized capital flows over the past 15 years with respect to macroeconomic performance and risks to financial stability. The results of the panel data regressions indicate that greater openness to capital flows is associated with higher growth, gross capital flows, and equity returns and with lower inflation and bank capital adequacy ratios. The effects vary depending on thresholds. As a potential application of these findings, the paper explores the possible effects of liberalization on China by applying the coefficients of explanatory variables to the corresponding variables of China in 2012?16. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/275 606 $aCapital movements$zDeveloping countries 606 $aEconomic development$zDeveloping countries 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $a'Panel Data Models$2imf 606 $aSpatio-temporal Models'$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aOther Economic Systems: Public Economics$2imf 606 $aFinancial Economics$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aInternational economics$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinance$2imf 606 $aCapital account liberalization$2imf 606 $aCapital flows$2imf 606 $aCapital adequacy requirements$2imf 606 $aFinancial sector risk$2imf 606 $aReal interest rates$2imf 606 $aBalance of payments$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aFinancial services$2imf 606 $aCapital movements$2imf 606 $aAsset requirements$2imf 606 $aFinancial risk management$2imf 606 $aInterest rates$2imf 607 $aChina, People's Republic of$2imf 615 0$aCapital movements 615 0$aEconomic development 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aFinance: General 615 7$a'Panel Data Models 615 7$aSpatio-temporal Models' 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aOther Economic Systems: Public Economics 615 7$aFinancial Economics 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aInternational economics 615 7$aFinancial services law & regulation 615 7$aFinance 615 7$aCapital account liberalization 615 7$aCapital flows 615 7$aCapital adequacy requirements 615 7$aFinancial sector risk 615 7$aReal interest rates 615 7$aBalance of payments 615 7$aFinancial regulation and supervision 615 7$aFinancial sector policy and analysis 615 7$aFinancial services 615 7$aCapital movements 615 7$aAsset requirements 615 7$aFinancial risk management 615 7$aInterest rates 700 $aSaadi Sedik$b Tahsin$01548105 701 $aSun$b Tao$01103303 712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779594503321 996 $aEffects of Capital Flow Liberalization$93804913 997 $aUNINA