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Capital Folws, capital account liberalisation and the southern Mediterranean countries

Author

Listed:
  • Heather D. Gibson

    (Bank of Greece, Economie Research Department, Athens (Greece))

  • Thomas Vlassopoulo

    (European CentraI Bank, Directorate GeneraI Economics, Bruxelles (Belgium) and Bank of Greece, Economie Research Department, Athens (Greece))

Abstract

This paper examines questions related to possible capital account liberalisation in the Mediterranean countries. First, we provide an overview of the extent to which these countries have capital controls along with their exchange rate regimes and some basic macroeconomic aggregates. Second, we examine the case for capital account liberalisation, along with the prerequisites for successful liberalisation. Here we consider issues such as sequencing and possible benefits of synchronisation. Finally, we examine the experience with capital flows – both FDI and other capital flows. We explain these flows and use the past experience of these countries to draw some conclusions for the successful opening up of the capital account.

Suggested Citation

  • Heather D. Gibson & Thomas Vlassopoulo, 2007. "Capital Folws, capital account liberalisation and the southern Mediterranean countries," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 60(241), pages 137-165.
    • Handle: RePEc:psl:bnlaqr:2007:22
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9880/9762
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    References listed on IDEAS

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    Cited by:

    1. Chokri Zehri, 2017. "The Relaxing of Capital Controls and Rise of External Debt," American Journal of Economics and Business Administration, Science Publications, vol. 9(4), pages 61-70, December.

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    More about this item

    Keywords

    Capital Flow; Liberalization;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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