Series: IMF Policy Discussion Papers
Author(s): Eswar Prasad , and Raghuram Rajan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2005
Keywords: Capital account liberalization, Capital controls, Capital inflows, Reserves, Foreign exchange reserves, International finance, closed-end mutual fund, international portfolio diversification, capital account, capital outflows
In this paper, we develop a proposal for a controlled approach to capital account liberalization for economies experiencing large capital inflows. The proposal essentially involves securitizing a portion of capital...