As a growing number of nations usher in market economies,
policymakers must grapple with key decisions regarding capital
controls and capital account liberalization. In this ambitious
volume, distinguished economists evaluate these choices within the
context of economic efficiency, economic structure, and political
consequences in an increasingly global and competitive market
environment. Critically assessing traditional positions on the
timing and degree of liberalization of trade and capital flows,
they also consider newer arguments from the fields of public
choice, financial economics, and industrial organizations. In
addition, the contributors examine some of the specific approaches
undertaken in various emerging market economies, including in
east-central Europe and the former Soviet Union.
General
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