This paper reexamines Aizenman’s (1985) results on the effects of capital controls during unanticipated trade liberalization using an intertemporal optimizing

After the industrial countries established current account convertibility in the late1950s, they began to phase out their capital controls. Their efforts were s

This paper reviews the experience with capital controls in industrial and developing countries, considers the policy issues raised when the effectiveness of cap

Can knowledge of financial policies in developing countries over four decades help the socialist economies of Asia and Eastern Europe become open market economi