Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications

50 Pages Posted: 15 Feb 2006

See all articles by Hamid Faruqee

Hamid Faruqee

International Monetary Fund (IMF) - Research Department

Date Written: November 1991

Abstract

This paper estimates empirically the changing degree of capital mobility in several Pacific Basin countries that have pursued financial liberalization in recent years. Tracing the impact of the liberalization process on the capital account, the paper also examines the implications for monetary policy operating in this changing economic environment. Empirical estimates support an overall finding of increased capital mobility in the region over the past decade. However, country experiences, with the exception of Singapore, have been more episodic--oscillating between periods of high and low financial openness--rather than uniform in regards to changing capital mobility.

JEL Classification: E43, F21, G15

Suggested Citation

Faruqee, Hamid, Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications (November 1991). IMF Working Paper No. 91/115, Available at SSRN: https://ssrn.com/abstract=885146

Hamid Faruqee (Contact Author)

International Monetary Fund (IMF) - Research Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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