Dynamic Capital Mobility in Pacific Basin Developing Countries

Download or read book Dynamic Capital Mobility in Pacific Basin Developing Countries written by Mr.Hamid Faruqee and published by International Monetary Fund. This book was released on 1991-11-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.