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Towards Capital Account Convertibility

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  • Bernhard Fischer
  • Helmut Reisen

Abstract

• Advanced developing countries are increasingly encouraged to remove existing capital controls, but mixed experiences with capital account opening caution that reform must be carefully designed to increase efficiency and growth without compromising stability • A gradual dismantling of capital controls is recommended, based on progress made in tax reform, exchange rate management, enforcement of bank competition and supervision, and solving domestic banks' bad-loan problems

Suggested Citation

  • Bernhard Fischer & Helmut Reisen, 1992. "Towards Capital Account Convertibility," OECD Development Centre Policy Briefs 4, OECD Publishing.
    • Handle: RePEc:oec:devaab:4-en
    DOI: 10.1787/332312815187
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