Capital Account Liberalization: Asian Experience
Synopsis
After the Asian economic crisis, Asian countries saw the highs and lows of the costs and benefits of liberalization. When capital flows into a country it increases the invisible resources and catalyzes growth. But when a capital outflow takes place in unexpected pace and quantity, it plays havoc with the country’s economy as seen in East Asia. Important case studies on this subject here are those of India, Korea, Thailand, Japan and China.
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